Fisher and Garten will discuss Garten’s new book, THREE DAYS AT CAMP DAVID, which describes how and why the Nixon administration broke the link between the dollar and gold, setting shock waves throughout the world economy and upending America’s most important political and military alliances. They will explain why this decision was perhaps the biggest one ever made in the international monetary system since the Bretton Woods Agreement of 1944, how it led to floating exchange rates, to more financial engineering, more intense globalization, and even to the emerging world of crypto and digital currencies. And they will examine the challenges to the dollar today, from China, from new forms of currency, from new kinds of protectionism, and from dysfunctional elements of our political system and institutions.
Jeffrey Garten is the former dean of the Yale School of Management, undersecretary of commerce for international trade, and managing director of the Blackstone Group. He now teaches courses at Yale on the global economy, international crisis management, and US foreign economic policy. He is the author of several books on global political and economic subjects including FROM SILK TO SILICON: The Story of Globalization Through Ten Extraordinary Lives.
Richard Fisher was president of the Federal Reserve Bank of Dallas from 2005 to 2015. He began his career in private banking before becoming assistant to the secretary of the treasury during the Carter administration. He served as deputy U.S. trade representative in the Clinton administration. Ambassador Fisher’s experience also includes working for Secretary of State Henry Kissinger’s strategic advisory firm and founding his own firm, Fisher Capital Management. He holds a bachelor’s degree in economics from Harvard University and an M.B.A. from Stanford University.