Global Imbalances: The Next Crisis?
A Presentation of the No Way Out Conference Series

For years, watchers of global imbalances have been warning that American borrowing would end in a weakening dollar, rising U.S. interest rates, and a financial crisis. There was a crisis, but it pushed international investors toward the safety of U.S. Treasury securities, drove interest rates to record lows, and avoided a sustained dollar decline. Despite these changes, America's financial position remains unsustainable.

At this AEI event, Professor Frank Warnock of the University of Virginia's Darden School of Business will discuss where we currently stand with respect to global imbalances. He will present forthcoming research on the remaining dangers and the lessons of the past year. AEI resident scholar Vincent R. Reinhart will moderate.

About the Author

 

Desmond
Lachman
  • Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.
  • Phone: 202-862-5844
    Email: dlachman@aei.org

 

Vincent R.
Reinhart
  • Vincent Reinhart, a former director of the Federal Reserve Board's Division of Monetary Affairs, joined AEI in 2008 after working on domestic and international aspects of U.S. monetary policy at the Fed for more than two decades. He held a number of senior positions in the Divisions of Monetary Affairs and International Finance and served for the last six years of his Federal Reserve career as secretary and economist of the Federal Open Market Committee. Mr. Reinhart worked on topics as varied as economic bubbles and the conduct of monetary policy, auctions of U.S. Treasury securities, alternative strategies for monetary policy, and the efficient communication of monetary policy decisions. At AEI, he has continued his work on all of the above in addition to research on key economic variables before and after adverse global and country-specific shocks, policy mistakes leading to the 2007-09 financial meltdown, and the implementation and impact of quantitative easing.
  • Email: vincent.reinhart@aei.org
  • Assistant Info

    Name: Rohan Poojara
    Phone: 202-862-5852
    Email: rohan.poojara@aei.org
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