Some students are getting a jump on their future this summer as participants in Hood’s Summer Research Institute. The SRI is a competitive program which allows selected students to work one-on-one with a faculty adviser on a research project. Students are provided free housing and a stipend while they conduct research in the laboratory or in the field for eight weeks. Pictured: Gianfranco Portuondo ’18 and Erin George, Ph.D., Assistant Professor of Economics.

By Gianfranco Portuondo ’18

This summer Dr. George and I are studying the effects of monetary policy on job flows. Monetary policy is the tool that the central bank (the Federal Reserve) uses to maintain a stable economy. The central bank’s main monetary policy tool is changing the interest rate. The interest rate affects investment which in turn affects the number of jobs in an economy. The Federal Reserve has a dual mandate of maintaining stable employment and maintaining price stability.

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