Stability in an Age of Shocks: Rethinking Macro Policy for a Fragmenting World

In an era marked by persistent global shocks, rising geopolitical fragmentation, and heightened economic uncertainty, the foundations of macroeconomic policy are being tested like never before. From inflation volatility and financial tightening to supply chain disruptions and shifting capital flows, policymakers face increasingly complex trade-offs in sustaining stability while supporting growth.

Policy Talk 2026: Stability in an Age of Shocks brings together leading policymakers and scholars to examine how macroeconomic frameworks must adapt to this new reality. The discussion will explore key questions, including: How should central banks respond to overlapping shocks? What role should fiscal policy play in an environment of rising debt and constrained policy space? And how can emerging markets navigate external pressures while maintaining domestic stability?

Featuring Prof. Jeffrey A. Frankel (Harvard University), Dr. Perry Warjiyo (Governor, Bank Indonesia), and Dr. M. Chatib Basri (Former Minister of Finance of Indonesia, Harvard CID), the panel will provide both global perspectives and practical policy insights drawn from real-world experience.

This event is organized by the Rajawali Foundation Institute for Asia in collaboration with the Indonesia Caucus at Harvard Kennedy School.