WHO:  Anthony Santomero, president, Federal Reserve Bank of Philadelphia

WHAT: Penn Humanities Forum lecture on "Great Expectations: Beliefs, Economics and Monetary Policy"

WHEN:  Wednesday, Nov. 5, 2003, 5- 6:30 p.m.  

WHERE: 200 College Hall on the University of Pennsylvania campus, Philadelphia

Anthony Santomero, president of the Federal Reserve Bank of Philadelphia, will discuss the role of consumer expectations and beliefs on the U.S. economy.  In his remarks, Santomero will use specific illustrations of how beliefs shape the investigation and evaluation of decisions regarding the conduct of monetary policy in the U.S., including the credibility of policymakers.

He will conclude with observations about how debates on key current policy issues depend heavily on the nature of people's beliefs about economic conditions, future policymaker behavior and their own outlooks for the future.

Patrick Harker, dean of Penn's Wharton School, will introduce Santomero, who before his appointment at the Federal Reserve Bank, was a professor of finance at Wharton and for a time served as deputy dean of the school and director of the Wharton Financial Institutions Center.

The event is free and open to the public.  Registration is required at http://humanities.sas.upenn.edu/03-04/santomero.html, 215-898-8220 or humanities@sas.upenn.edu.