The Peterson Institute for International Economics (PIIE), the Sasakawa Peace Foundation USA, and the Sasakawa Peace Foundation Japan launched a new multiyear project, the High-Level Working Group on Japan-US Common Economic Challenges. The second part of the public seminar held June 3, 2014, at the Peterson Institute was entitled "Integrating Long-term and Short-run Macro Policies." Participants included: Richard Clarida, Columbia University; Peter Fisher, Dartmouth University; Takatoshi Ito, National Graduate Institute for Policy Studies and Columbia; and Masahiro Kawai, University of Tokyo, Graduate School of Public Policy. Motoshige Itoh, University of Tokyo, and Adam S. Posen, PIIE, gave the concluding remarks. For more information, visit: www.piie.com/events/event_detail.cfm?EventID=331