Fed Policy Adviser to Speak at College

Dr. Julie Hotchkiss, a research economist and senior policy adviser at the Federal Reserve Bank of Atlanta, will attempt to separate unemployment fact from fiction in this semester’s D.K. Smith ’42 Lecture on Thursday, Oct. 15th. One of many campus speakers, Hotchkiss plans to discuss the truth behind headlines regarding labor statistics.

Phanindra Wunnava, D.K. ’42 Chair in Applied Economics, organizes the biannual D.K. Smith Lecture and selected Hotchkiss, a vice president of the Southern Economic Association, and a researcher of race and wage differentials. Wunnava and Hotchkiss have known each other for over 20 years. Today, the two continue to commemorate as researchers of the U.S. labor market. Wunnava chose Hotchkiss in order to educate the community about the state of unemployment amidst the 2016 election.

“With the presidential political warfare taking over our airwaves, her talk will be a reality check about some of the outrageous economic predictions we are hearing from the candidates of both parties,” Wunnava said.

Although Hotchkiss works for the Fed, Wunnava, does not think bias will be a problem, “She is a centrist, a highly cited economist of my generation because of her objectivity,” he added.

According to Wunnava, D.K. Smith lectures typically are very popular.

“It gets filled to the brim,” he said. “Standing room only. Folks in town who are interested usually come. I make a point to make sure the word is out with the local media. At the end of the day I want to be sure we have a big crowd."

Even students who don’t usually find these talks to be captivating have demonstrated interest. Namely Economics major, Student Investment Committee Vice Chair, and Fed Challenge member Jackson Adams ’17 finds most economics speakers dull.

“I have yet to go to an economics talk that I thought was truly fascinating,” Adams said.

Although unimpressed by past speakers, Adams is optimistic about the Hotchkiss lecture.

“It’s crazy that the Fed set this unemployment target and then we surpassed it — we’re at a decade-low unemployment — and the Fed keeps looking at these other metrics to keep saying ‘the economy is not that strong.’ There is definitely some room for Hotchkiss to make the argument that the labor market is stronger than we’re led to believe,” he said.

“I’m an opponent of mandatory lectures,” Adams added. “The whole point of liberal arts is seeking out your own educational decisions, but going to these speakers is part of that.”

D.K. Smith ’42 taught for 40 years in the economics department, and Wunnava holds the professorship chair named after him. “As part of my chair professorship, I have the opportunity to invite experts in the field to share their knowledge with the college community and the public,” Wunnava said. Past D.K. Smith speakers include Richard Freeman (Harvard), Francine Blau (Cornell), and Charles Clotfeltet (Duke).