thinking about Our Future

                                                                                                                        





CSULB assistant professor Andrew Ojede hosted the Federal Reserve Bank and a panel of economic students on Friday during CSULB’s Monetary Policy Symposium.

Here’s the flyer: http://www.csulb.edu/colleges/cla/departments/economics/documents/MonetaryPolicySymposium_000.pdf

The purpose of the symposium was to simulate the proceedings of the Federal Open Market Committee (FOMC). The FOMC creates the country’s monetary policy. This policy has the power to increase or decrease the number of dollars in the U.S. economy partly through their federal funds rate.

The federal fund rate is the short term interest rate banks charge each other for temporary loans, if one bank may find itself short of revenues. If the federal funds rate rises or falls, other interest rates often move in the same direction.  

CSULB economic students played the role of the FOMC by presenting their own 2013 monetary policies.

The symposium lasted for five hours with a unanimous conclusion that an increase to the federal funds rate is not desirable for the 2013 fiscal year.  

“This event would not have been possible without Andrew’s energy,” economics professor Alejandra Edwards said.