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Center for Policy Studies
Public Affairs Discussion Group

Macroeconomic Challenges for the Next Administration

Mark S. Sniderman, Ph.D. - Executive in Residence and Adjunct Professor of Economics, Weatherhead School of Management at Case Western Reserve University and former Research Director, Federal Reserve Bank of Cleveland
Friday October 28, 2016
12:30-1:30 p.m.
Dampeer Room
Kelvin Smith Library
Case Western Reserve University

Dear Colleagues:

The first question in the first presidential debate was about how each candidate would "put more money into the pockets of American workers." Hillary Clinton said the government should "invest in you… in your future" and "make the economy fairer." Donald Trump said, "we have to stop our jobs from being stolen from us," and that he would be, "reducing taxes tremendously…a job creator like we haven't seen since Ronald Reagan."

A few days before, the Organization for Economic Cooperation and Development in its Economic Outlook warned that, "weak trade and financial distortions damage global growth prospects" amid a "self-reinforcing low-growth trap," possibly worsened by Brexit but with deeper roots. It suggested that low interest rates, which are a boon to government budgets, also posed serious risks if the trend were to reverse. Yet it did not explain why or when they might rise again.

How do the candidates' diagnoses of economic maladies fit with other understandings of the causes of low and unequal growth? What short-term developments may drive their economic policies, regardless of what they say today? In his long career with the Federal Reserve Bank of Cleveland, Mark Sniderman was deeply engaged with research and policy-making about the national economy. Join us as he shares his perspectives.

All best regards,
Joe White
Luxenberg Family Professor of Public Policy and Director, Center for Policy Studies

About Our Guest

Mark Sniderman’s academic and professional interests are focused on macroeconomics and financial regulation, especially the roles played by central banks. He is currently studying the unconventional monetary policies being employed by central banks in the wake of the global financial crisis, as well as their newer responsibilities for promoting financial stability. Sniderman came to Case after a career with the Federal Reserve Bank of Cleveland, culminating in his position as Executive Vice President and Chief Policy Officer. In that role, Sniderman served as principal adviser to the Bank president for economic and financial policy issues. As a senior executive officer, Sniderman had responsibilities for leadership of the Bank’s economic research, public affairs, and community affairs departments; he also served on the Bank’s management committee. Sniderman chaired the Bank’s Senior Policy Committee and was a member of its Credit Risk Management Committee. During his Federal Reserve career, Sniderman attended more than 100 meetings of the Federal Open Market Committee, the Fed’s monetary policy body; and spoke frequently to public audiences about the economic conditions and monetary policy issues. Sniderman continues to speak on these topics to a variety of business and professional audiences.

Where We Meet

The Friday Public Affairs Lunch convenes each Friday when classes are in session, from 12:30 p.m. to 1:30 p.m. Our programs are open to all and no registration is required. We usually meet in the Dampeer Room of Kelvin Smith Library. The Dampeer Room is on the second floor of the library. If you get off the elevators, turn right, pass the first bank of tables, and turn right again. Occasionally we need to use a different room; that will always be announced in the weekly e-mails.

Parking Possibilities

The most convenient parking is the lot underneath Severance Hall. We regret that it is not free. From that lot there is an elevator up to street level (labeled as for the Thwing Center); it is less than 50 yards from that exit to the library entrance. You can get from the Severance garage to the library without going outside. Near the entry gates - just to the right if you were driving out - there is a door into a corridor. Walk down the corridor and there will be another door. Beyond that door you'll find the entrance to an elevator which goes up to an entrance right inside the doors to Kelvin Smith Library.

Schedule of Friday Lunch Upcoming Topics and Speakers:

November 4: Biennial Political Science Department Pre-Election Forecast Discussion.

November 11: The Unrealized Promise of Libertarianism. With Gus Dizerega, Ph.D., independent political theorist.

November 18: Can Democracy Meet the Challenge of Polarization? With Mark Chupp, Assistant Professor, Jack, Joseph and Morton Mandel School of Social Sciences.

November 25: Thanksgiving Break.

December 2: Putin's Russia. With Kelly M. McMann, Associate Professor of Political Science and Director, International Studies Program.

December 9: Health Care Report Cards – Time for Second Thoughts? With J.B. Silvers, John R. Mannix Medical Mutual of Ohio Professor of Health Care Finance.

October 24, 2016

If you would like to reply, submit items for inclusion, or not receive this weekly e-mail please send a notice to:

Upcoming Events

2016 Ubbelohde Lecture: What Ails Democracy?

A discussion with James T. Kloppenberg, Ph.D., Charles Warren Professor of American History at Harvard University, Thursday, November 3, 2016, 7:30 - 8:30 p.m., Tinkham Veale University Center, Ballroom C, 11038 Bellflower Road, Cleveland, OH 44106. Co-sponsored by the Baker-Nord Center for the Humanities, Department of History, and the CWRU History Associates. Free and open to the public.

James T. Kloppenberg is one of the leading intellectual historians in the United States. Drawing from the work in his newest book, Toward Democracy: The Struggle for Self-Rule in European and American Thought, and his award-winning 2011 book, Reading Obama: Dreams, Hope, and the American Political Tradition, he will help us consider the historical context of the American political tradition as we reach the culmination of a tumultuous political campaign.

Graveyard of the Clerics: Islamism in Saudi Suburbia

A discussion with Pascal Menoret, Ph.D., Professor of Anthropology, Brandeis University, Friday, November 11, 2016, 3:00 p.m., Tinkham Veale University Center, Senior Classroom, 11038 Bellflower Rd, Cleveland, Ohio 44106. Sponsored by the the Northeast Ohio Consortium for Middle East Studies, co-sponsored by the Department of Political Science and the Center for Policy Studies. Free and open to the public.

How and why did Saudi activists embrace Islamism, since they already live in what claims to be an Islamic state? How do they organize and mobilize followers in a highly repressive environment? This talk will answer these two questions by looking closely at the 2005 municipal elections, which were won in the major cities by Islamist lists. What network made the elections? How did Islamists mobilize despite a draconian electoral code? What is the importance of local elections in the longer history of Saudi Islamism?

Pascal Menoret is the author of Joyriding in Riyadh: Oil, Urbanism, and Road Revolt (Cambridge University Press 2014), of Arabia, from the Incense Road to the Oil Era (Gallimard 2010, in French) and of The Saudi Enigma: A History (Zed Books 2005). An ethnographer and historian, he conducted four years of fieldwork in Saudi Arabia and has lived in Yemen, in Egypt, and in the United Arab Emirates. He earned his Ph.D. from the University of Paris and is currently a professor at Brandeis University.

October 2016







































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