Global Economic Prospects: Spring 2019

Karen Dynan, Martin Chorzempa, and Joseph E. Gagnon presented at PIIE’s semiannual Global Economic Prospects event on April 2, 2019. Dynan, who leads the Institute’s ongoing economic forecasting efforts, shared her insights on the global economic outlook. Chorzempa discussed the state of credit markets, monetary stimulus, and financial stability in China. Gagnon summarized his new analysis of the US Phillips curve and its implications for the inflation forecast and Federal Reserve monetary policy.

Karen Dynan is a professor of the practice in the department of economics at Harvard University and a nonresident senior fellow at PIIE. She was assistant secretary for economic policy and chief economist at the US Department of the Treasury from 2014 to 2017, leading analysis of economic conditions and development of policies to address the nation’s economic challenges. From 2009 to 2013, she was vice president and codirector of the economic studies program at the Brookings Institution. Before that, she served in various roles in the Division of Research and Statistics at the Federal Reserve Board, including as assistant director and senior adviser.

Martin Chorzempa, research fellow, joined the Institute in 2017. He gained expertise in financial innovation while in Germany as a Fulbright scholar and researcher at the Association of German Banks. He conducted research on financial liberalization in Beijing, first as a Luce scholar at Peking University’s China Center for Economic Research and then at the China Finance 40 Forum, China’s leading independent think tank.

Joseph Gagnon, senior fellow since September 2009, was visiting associate director of the Division of Monetary Affairs (2008–09) at the US Federal Reserve Board. Previously he served as associate director of the Division of International Finance (1999–2008) and senior economist (1987–1990 and 1991–97) at the Fed. He has also served at the US Treasury Department (1994–95 and 1997–1999) and has taught at the Haas School of Business, University of California, Berkeley (1990–91).