Federal Reserve Bank of San Francisco | Lessons from History, Policy for Today
Economic Club of New York Virtual Webinar New York, NY For delivery on Tuesday, March 2, 2021 2:00 P.M. EST Introduction In February of last year, right before COVID-19 hit our shores, I was in Ireland. Walking around Dublin one day, I happened upon a converted warehouse with artists selling their work. One of the artists had a wall of beautifully colored, tiny framed prints. Each one was etched with the phrase “History Will Repeat Itself” followed by an arrow pointing to the future. It seemed a pessimistic, almost fatalistic view, so I asked him if he had painted it out of prophecy o...