St. Louis Fed President Speaks to Olin Century Club
Olin’s Century Club Business Series continues to attract timely and fascinating speakers, including Jim Bullard, president and CEO of the St. Louis Federal Reserve Bank. Bullard was on campus Dec. 4, when he presented an interesting, captivating ― and refreshingly understandable ― dissection of the current economic recession and financial crisis.A large portion of his remarks compared and contrasted the current recession to three other recent recessions ― those of 1981-82, 1990-91 and 2001 ― on several key variables: output, consumption, retail sales, residential investment, house prices, business fixed investment, unemployment rate, nonfarm payroll employment and manufacturing industrial production.
Bullard peppered his cogent analysis with wit and warmth as he walked the standing-room-only audience of more than 300 Olin alumni, students, faculty and corporate friends through a complex subject in a manner that was comprehensive and accessible. As one audience member commented during the Q&A session that followed, “This is the first time I have heard an explanation of this situation in a way that I could understand and that put everything in context.”
An accomplished economic theorist and well-respected macroeconomist, Bullard joined the Research division of St. Louis Fed in 1990 and held increasingly responsible positions in the division. He was promoted to president and CEO on April 1, 2008. As such, he directs the activities of the Bank’s head office in St. Louis as well as its three branches in Little Rock, Louisville and Memphis. In addition, he represents the Bank on the Federal Open Market Committee, the Federal Reserve’s chief monetary policymaking body.
Olin's Century Club Business Series allows attendees to hear highly regarded business leaders discuss challenges and opportunities in their industries. These informal breakfast get-togethers give the Olin community an opportunity to connect with Olin alumni, friends, faculty and students.
Click here to download graphs from Bullard's presentation.
