Event: ‘A Tale of Two Labour Markets: The UK and US models and impact on growth & interest rates’


A Tale of Two Labour Markets: The UK and US models and impact on growth & interest rates

TIME: Tuesday 26th January, 13:00-14:00

VENUE: Committee Room 18, House of Commons, SW1A 0AA

SPEAKER: Professor Kristin Forbes, Member of the Monetary Policy Committee, Bank of England

To attend please RSVP to: rsvp@henryjacksonsociety.org


Guessing whether and when interest rates will rise appears to be the game of choice today for economic commentators, savers and borrowers alike. Given our historically low rates in the US and UK – now in tandem following the recent US rate rise to what Bank of England Governor Mark Carney has called the “lofty level” of 0.5% – what does the future hold for our two countries?

One clue may well come from the different structure of labour markets in the US and UK, and what this means for economic growth and interest rates. Issues such as labour market flexibility and worker productivity will have a bearing on how quickly the economic recovery continues, our response times to changed circumstances, and whether short term boom once again turns to medium term bust or can be transitioned into a more sustainable longer term position.

In order to shed some light on future possibilities, by kind invitation of Gisela Stuart MP, The Henry Jackson Society is pleased to invite you to an event with Professor Kristin Forbes who will provide an analysis of US and UK labour markets, and how our differences may lead to divergent economic growth and interest rate policies going forwards.

To attend, please RSVP to rsvp@henryjacksonsociety.org. RSVPs must include your full name and any affiliations including for any guests you wish to bring. We will send a confirmation that will be required to attend the event.

Speaker Biography

Professor Kristin Forbes joined the Monetary Policy Committee of the Bank of England in July of 2014.

She is also the Jerome and Dorothy Lemelson Professor of Management and Global Economics at the Sloan School of Management at the Massachusetts Institute of Technology. This continues Professor Forbes tradition of serving in senior policy positions while maintaining her academic affiliation with MIT. She served as a Deputy Assistant Secretary in the U.S. Treasury Department from 2001-2002, as a Member of the White House’s Council of Economic Advisers from 2003-2005, and a Member of the Governor’s Council of Economic Advisers for Massachusetts from 2009-2014.

Professor Forbes academic research addresses policy-related questions in international macroeconomics, including topics such as capital flows, contagion, and financial crises. Forbes was named a “Young Global Leader” as part of the World Economic Forum at Davos. She is a research associate at the NBER and a member of the Bellagio Group and Council on Foreign Relations. She was previously on the academic advisory board of the Congressional Budget Office, Peterson Institute for International Economics, and Center for Global Development. Before joining MIT, Forbes worked at the World Bank and Morgan Stanley. She received a PhD in Economics from MIT and her BA, summa cum laude with highest honors from Williams College.


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