J. Christina Wang is the senior economist and policy advisor at the Federal Reserve Bank of Boston. On Monday, she will be visiting Boston College, giving a talk geared toward bringing monetary policy and the economy beyond the textbook. The event is sponsored by BC’s Omicron Delta Epsilon chapter and will be held in Stokes 195S at 7 p.m.
Wang earned her B.A. from Tsinghua University in China, her M.A. from the University of Western Ontario in Canada, and her Ph.D. from the University of Michigan. As a policy advisor, Ms. Wang’s current research endeavors include refining a consistent measure of bank output, analyzing the impact of financial contracts on the business cycle, and understanding optimal banking regulations.
“The purpose of this talk is to get a real live economist’s view on how the economy works and how economists work to better the economy,” said William Musserian, co-chair of BC’s Omicron Delta Epsilon chapter and MCAS ’16. “I don’t think students normally get that perspective. It’s basically just what they have in the textbook.”
The Federal Reserve Bank of Boston, as a member of the nation’s central bank, is responsible for the promotion of sound growth and financial stability across New England and the United States at large. Recently, the Fed has been reaching out to schools in the Boston area in an effort to teach more students about its role in the economy, discuss policy decisions implemented in recent years, and explain more about its daily operations and how they regularly affect citizens’ lives.
During the event, Wang will provide a general overview of what the Fed does in terms of stabilizing the economy, maintaining maximum employment, and keeping inflation at a low, steady pace. She will also delve deeper into some of the aggressive policies that the Federal Reserve has had to implement in response to the Great Recession and the 2008 financial crisis.
“Feds handle monetary policy, and play a big role in what interest rates turn out to be,” said Robert Murphy, the director of undergraduate studies in the department of economics. “To the extent that students will be graduating from BC and maybe, at some point, purchasing an auto, interest rates on their auto loans will be tied to what the fed is doing. If the Feds succeed, their futures and lives will be better. Recessions won’t be as deep, or severe, or prolonged. It’s just better for everybody’s well being.”
Featured Graphic by Gus Merrell