Conversations with the Fed: Understanding the FOMC’s Summary of Economic Projections

Wondering how to understand monetary policy? Have you heard of the Federal Open Market Committee’s SEP (Summary of Economic Projections)? How about the dot plot? What exactly is “forward guidance”? Ben Malin, vice president of Research, explained these concepts and their importance in monetary policy during this virtual event.

As vice president of the Research Division, Ben Malin oversees the division’s economic analysis function, which is a primary source of monetary policy support for President Neel Kashkari. Ben joined the Bank as a senior economist in 2012, after spending six years as an economist at the Federal Reserve Board of Governors. His current research focuses on firms’ price-setting behavior, business cycles, and economic growth. Ben holds a B.S. in economics from Iowa State University and a Ph.D. in economics from Stanford University.