Join NABE Chicago for a special Sherry Hour with Tim Congdon, CBE, one of Britain’s leading monetarist economists, visiting Chicago from London on his way to NABE’s Annual Meeting in Cleveland. Lyric Hughes Hale will moderate the conversation.

Congdon has spent much of his career making a deceptively simple argument: money matters. During the pandemic, when many economists feared deflation, he focused on the extraordinary expansion of the money supply and warned instead that inflation would follow.

Today, the question is newly relevant. US M2 has reached an all-time high of more than $23 trillion. What does the growth of the money supply tell us about inflation, economic growth, interest rates, and the future course of Federal Reserve policy? And are economists and central bankers still paying too little attention to money itself?

Congdon will discuss why his monetary analysis led him to anticipate the post-COVID inflation, what has happened to money and credit since then, and what those signals may tell us about the US economy over the next several years.

Congdon is Chairman of the Institute of International Monetary Research and Professor at the University of Buckingham. His most recent book, Money and Inflation at the Time of Covid, was selected by the Financial Times’ Martin Wolf as one of his must-read economics books of 2025.