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FOR IMMEDIATE RELEASE
Date: April 10, 1996
Contact: Mary Caffrey (609) 258-5748
Professor Alan S. Blinder to Address Role of Federal Reserve
Princeton, N.J. -- Alan S. Blinder, professor of economics and the former Vice Chairman of the Board of Governors of the Federal Reserve System, will give a public lecture, ``The Federal Reserve in the Nation's Service,'' at 5 p.m. April 26 in McCosh 50. After his speech, Blinder will answer questions from members of the audience.
The lecture will focus on the role of monetary policy in controlling inflation and managing aggregate demand, as well as the Fed's degree of independence from the rest of the government.
Blinder's address is sponsored by the University's Center for Economic Policy Studies and is one of several lectures associated with the celebration of Princeton's 250th Anniversary. This year also marks the centennial of the famous speech by President Woodrow Wilson, "Princeton in the Nation's Service," which Wilson gave when he was a member of the Princeton faculty.
Blinder, who is the Gordon S. Rentschler Memorial Professor of Economics, served as Vice Chairman of the Federal Reserve Board from June 1994 until January 1996. In this position, he represented the Fed at various international meetings, and he was a member of the Board's committees on Bank Supervision and Regulation, Consumer and Community Affairs and Derivative Instruments.
Before joining the Federal Reserve Board, Blinder served as a member of President Clinton's Council of Economic Advisers from January 1993 until June 1994. In this role, Blinder led the administration's macroeconomic forecasting and also worked on the budget, international trade and health care issues.
In 1989, Blinder founded the Center for Economic Policy Studies, which supports economic policy research at Princeton and encourages the discussion of policy issues among academic, government and business experts. Since returning to Princeton, Blinder has resumed his position as co-director of CEPS with fellow Princeton Professor Harvey S. Rosen, chair of the Economics Department.
Blinder will meet with members of the press briefly after giving his address and answering questions from the audience.