Today, Carleton University President, Dr. Roseann O’Reilly Runte announced the creation of Carleton’s new Centre for Monetary and Financial Economics (CMFE).
“Carleton’s expertise on monetary and financial policy is impressive and the centre will provide a much needed and most valuable resource for Canadians,” said Dr. Runte at the opening ceremony.
“It will generate leading-edge knowledge and research on monetary and financial economics that will inform the Canadian public and policy-makers about pressing economic issues of the day,” said Dr. Keir Armstrong, chair of the department of economics and chair of the management board of the new centre.
The centre is home to 20 accomplished Carleton researchers from the Faculty of Public Affairs and beyond who will set up, manage and expand national and international networks and communities. Along with cutting-edge research, they will deliver professional development courses, workshops, conferences, and symposia for the public and private sectors on contemporary issues in the field as well as provide training opportunities for graduate students.
As part of the opening ceremony, the CMFE hosted its first high-profile event, a 45-minute lecture by Laurence H. Meyer who served as a member of the Board of Governors of the Federal Reserve System from June 1996 until January 2002 and is currently vice chairman of Macroeconomic Advisers and a distinguished scholar at the Center for Strategic and International Studies in Washington D.C.
His talk was titled “The Great Global Recession: How It Happened and What Can Be Done About It.”
Meyer said that the U.S. and the global economy are in severe recessions, reflecting in part and amplified by a financial and banking crisis in many countries. He discussed the origins and triggers of the financial crisis, the steps that have been taken to restore the health of the financial system and pull the global economy out of recession, and the likely directions of financial regulatory reform to reduce the risk of a repeat. He also gave his forecast for the U.S. economy and the risks to that outlook.
The first co-directors of the CMFE are Drs. Charles Freedman and Stephen Ferris. Dr. Edward Jackson, Associate Dean (Research and Graduate Affairs) in the Faculty of Public Affairs, is a member of the Centre’s Management Board.
The website for the centre can be found at http://www.carleton.ca/cmfe/.
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