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At a December 2007 AEI conference, five AEI economists had widely divergent views about the direction the economy is likely to take, but they agreed to revisit the issue when there were more data available about the scope of market turmoil and the health of the economy. In the four months since, the creditors and counterparties of Bear Stearns have been bailed out by the Federal Reserve through a sale to JPMorgan Chase, and where the current turmoil in the housing and financial markets will lead is still in doubt. Eminent economist Allan H. Meltzer has been added to the panel for his distinctive approach and his knowledge of Federal Reserve policy. The panelists will provide their assessments of the present and future of the financial markets and the economy and will identify what--if anything--policymakers should do. AEI’s Peter J. Wallison will moderate.

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