» Shadow Open Market Committee Conference

2023 SOMC Conference  Tight Money, Persistent Inflation, and a Credit Crunch: The Fed’s Dilemma

Friday, June 16, 2023
8:30 AM - 5:00 PM (PST)
Keynote 2:00 PM (PST)

Keynote: Dr. Tyler Goodspeed

Dr. Tyler Beck Goodspeed is an accomplished economist with a rich background in economic policy, research, and academia. Currently serving as a Kleinheinz Fellow at the Hoover Institution at Stanford University and an adjunct scholar at the Cato Institute's Center for Monetary and Financial Alternatives, Goodspeed has made significant contributions in various roles throughout his career. 

From 2020 to 2021, Goodspeed served as the acting chairman and vice chairman of the Council of Economic Advisers, where he played a pivotal role in advising the administration on economic responses to the challenges posed by the COVID-19 pandemic and subsequent recovery efforts. He resigned from the Council in January 2021 after fulfilling his responsibilities. Prior to this, he served as the chief economist for macroeconomic policy and senior economist for tax, public finance, and macroeconomics, where he played a crucial role in designing the 2017 Tax Cuts and Jobs Act. 

Goodspeed's academic journey includes positions at esteemed institutions such as the University of Oxford and King's College London, where he taught economics. He has conducted extensive research in financial regulation, banking, and monetary economics, focusing particularly on the role of access to credit in mitigating adverse environmental shocks in historical contexts. His research findings have been published in notable academic publications, including monographs and peer-reviewed journals. 

With an impressive educational background, Goodspeed holds a Ph.D. in history from Harvard University and a Ph.D. in economics from the University of Cambridge. He has also obtained a BA in economics and history, an MA in history, and an MPhil in economic history from Harvard and Cambridge, respectively. Goodspeed's expertise has been recognized by prestigious associations such as the American Economic Association and the Economic History Association, of which he is a member. 

In addition to his academic pursuits, Goodspeed serves as the Chief Economist at Greenmantle LLC, a global macroeconomic advisory firm.  

Through his extensive experience, valuable contributions to economic policy, and rigorous academic work, Tyler Goodspeed has established himself as a respected economist and thought leader in the field. 

More Information: Hoover Institute Profile

Watch the Sessions

Click the links below to watch the 2023 SOMC sessions

Session 1 | Session 2


SOMC Members

Deborah J. Lucas 

Massachusetts Institute of Technology & NBER 

"COVID Credit Policies Around the World: Size, Scope, Costs and Consequences"

Download Here

Andrew T. Levin 

Dartmouth College & NBER 

"Quantifying the Costs and Benefits of Quantitative Easing"

Download Here

Michael Bordo 

Rutgers University & NBER 

"Fed Rate Increases From Behind the Curve:  Financial Stresses Current and Historical"

Download Here

Mickey Levy 

Chief Economist for Americas and Asia, Berenberg Capital Markets, LLC 

“The Fed:  Bad Forecasts and Misguided Monetary Policy” 

Download Here


More Information: SOMC Archive


Event Moderated by: Marc Weidenmier, Chapman University & NBER  

Featured Discussants:  Gary Richardson, UCI & NBER | Michael Choi, UCI | Miguel Zerecero, UCI | Mikhail Chernov, UCLA & NBER 

Past Conferences

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Shadow Open Market Committee Conference

The Shadow Open Market Committee (SOMC) was founded in 1973 by Prof. Karl Brunner of the University of Rochester and Prof. Allan Meltzer of Carnegie-Mellon University. The SOMC remains an independent organization whose members are drawn from academic institutions and private organizations. The original objective of the SOMC was to evaluate the policy choices and actions of the Federal Reserve’s Open Market Committee (FOMC).