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The Philadelphia Fed Policy Forum

December 3, 2004

The fourth annual Philadelphia Fed Policy Forum, "Challenges and Opportunities in the Global Economy: Perspectives on Outsourcing, Exchange Rates, and Free Trade," was held on Friday, December 3, 2004, at the Federal Reserve Bank of Philadelphia.

The Policy Forum, organized by the Federal Reserve Bank of Philadelphia's Research Department, brought together a group of highly respected academics, policymakers, and market economists, for a discussion of important macroeconomic and monetary policy issues that the Federal Reserve will need to grapple with in the coming year. The Policy Forum was not intended to be a traditional academic conference on monetary policy, nor intended to be a discussion of issues relevant to the next FOMC meeting. Rather, the Policy Forum takes a longer term perspective and attempts to engage the right people in a discussion of current macroeconomic research and its implications for monetary policy.

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