Monetary policy under the shadow of geopolitical shocks

This lecture will examine how monetary policies have been affected by geopolitical developments over the past few years. The lecture will dive into how the effects differ depending on the nature of the geopolitical shocks. In addition, the lecture will examine the real effects and the effects of these shocks on expectations.

Meet our speaker and chair

Adriana Kugler is Full Professor at the McCourt School of Public Policy and Economics. From September 2023 to August 2025, Dr Kugler was Governor of the Federal Reserve Board and, prior to that position, she served as the U.S. Executive Director of the World Bank. She also served as Chief Economist of the U.S. Department of Labor during the Obama Administration. Her research interests include labour markets and policy evaluation in developed and developing countries, and her work includes contributions to the role of public policies (including payroll taxes, employment protections, occupational licensing, and unemployment insurance), unemployment, and immigration.

Ricardo Reis (@R2Rsquared) is the A.W. Phillips Professor of Economics at LSE. Recent honours include the 2022 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election for the Econometric Society in 2019, the 2017 BdF/TSE junior prize, and the 2016 Bernacer prize. He is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, directs the Centre for Macroeconomics, and serves on the council of, or as an advisor to, multiple organisations.

More about this event

The Centre For Macroeconomics (@CFMUK) is a research centre that brings together a group of world class experts to carry out pioneering research on the study of nations’ prosperity, and the crises that afflict them, helping to design policies that will create a healthier and more resilient economy.

Hashtag for this event: #LSECFM

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