Ben S. Bernanke is Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University. Thomas Laubach is an economist at the Federal Reserve Bank of Kansas City. Frederic S. Mishkin is A. Barton Hepburn Professor of Economics at the Graduate School of Business, Columbia University, and former Director of Research at the Federal Reserve Bank of New York. Adam S. Posen is Research Associate at the Institute for International Economics.