How many central bankers does it take to screw in a light bulb?
One, relates Alan Murray of the Wall Street Journal at the opening of the Caplin Conference on the World Economy at the University of Virginia’s Miller Center: The banker holds up the light bulb and the world revolves around it.
Good stuff. Not content to leave it there, though, Murray adds that he expects to world today to revolve around the conference, which brings together Fed watchers such as John Taylor of Stanford and international heavyweights such as Charles Goodhart of the London School of Economics.
These grandees and others will discuss the changing role of central banks and the implications of the financial crisis, among other questions. Ben Bernanke (right) is surely rapt: already the words “macroprudential” and “procyclical” have been deployed, with predictably dizzying effect.
If you care to see more, the video stream for the event — which started at noon and is scheduled to run till 3:30 — is available here.