The Global Financial Crisis: When Will the International Economy Start to Recover? (Ended)
On March 31, the Organization for Economic Cooperation and Development (OECD) released bleak 2009 economic predictions: world economic activity is slated to shrink by 2.7 percent this year and international trade is forecast to fall by more than 13 percent. During what the OECD calls "the deepest and most widespread recession for more than 50 years," the United States unemployment rate has now hit 8.5 percent- but it also appears that retail sales are tentatively strengthening and the housing market bubble has largely deflated. Additionally, the Dow hit a low of just under 6500 near the beginning of March, but has since recovered to nearly 8000. Amid such mixed economic markers, it is unclear how policymakers will know when the global economy is on the road to recovery. When global leaders met at the G-20 summit in London, they agreed to allow the International Monetary Fund to add up to $1 trillion in extra funding to the world economy- a move that could add significant liquidity to global credit markets. What other types of international cooperation will be needed to pull the collective world economy out of recession? Will countries resist protectionist impulses and keep channels of international trade open? What is next for a global economy facing these continuing overwhelming challenges and considerable economic uncertainty?
James W. Owens, Chairman and Chief Executive Officer, Caterpillar Inc.
David Michael, Senior Partner and Managing Director, The Boston Consulting Group - Beijing
Carl R. Tannenbaum, Vice President, Risk Specialist Division, Federal Reserve Bank of Chicago
Moderated by Michael H. Moskow, Vice Chairman and Senior Fellow on the Global Economy, The Chicago Council on Global Affairs, and Former President and Chief Executive Officer, Federal Reserve Bank of Chicago
7:30 a.m. - Registration and Continental Breakfast
8:00 a.m. - Panel Discussion and Q & A
9:30 a.m. - Adjournment
Time, Date, and Location:
The Fairmont Chicago, 200 North Columbus Avenue, Chicago, Illinois 60601
Wednesday, April 29, 2009
7:30 - 9:30 am
Learn more and register online at thechicagocouncil.org.
Please note that CFA Chicago will not accept any reservations for this event. If you have any questions, please contact The Chicago Council at 312-726-3860
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.