Following The Crisis: A Fragile Recovery (Ended)
Anil K. Kashyap, Edward Eagle Brown Professor of Economics and Finance, The University of Chicago
Booth School of Business
Peter C. Roberts, Chief Executive Officer, Americas, Jones Lang LaSalle
William H. Strong, Vice Chairman, Investment Banking Division, Morgan Stanley
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
Last October, The Chicago Council began offering panel discussions to provide real-time analysis of the ongoing financial crisis. One year later, while the sense of crisis has lessened among the public, deep economic uncertainty remains. Most economists believe that the overall economy started to expand in the third quarter of this year after declining in the previous four quarters. The equity markets have risen over 40 percent since March, and some economic indicators show improvement. However, declines in payroll employment have been continuing each month, and the unemployment rate has risen to 9.7%, the highest in twenty-six years. Consumer spending continues to be weak, and uncertainty remains about how the commercial real estate sector may affect the recovery. FDIC chairman Sheila Bair recently said that commercial real estate loans remain a "looming problem" for banks and could cause further bank failures. How will we know when the worst is over? Join us for a panel discussion with experts who will consider whether the economy has entered a sustainable recovery, and what risks, such as inflation, could derail the global economy.
Anil K. Kashyap is the Edward Eagle Brown Professor of Economics and Finance at the University of Chicago Booth School of Business. His research focuses on banking, business cycles, corporate finance, price setting, and monetary policy. Previously, Kashyap served as an economist for the Board of Governors for the Federal Reserve System. He is currently a consultant for the Federal Reserve Bank of Chicago, a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, and a research associate for the National Bureau of Economic Research.
Peter C. Roberts is chief executive officer of Jones Lang LaSalle's Americas region, where he is responsible for strategic planning, tactical oversight and senior-level management for North and Latin American operations and nearly 7,700 employees across five countries in forty-four key markets. Roberts is also a member of the firm's Global Executive Committee, and has been with the company since 1986. Previously, Roberts served separate stints as Jones Lang LaSalle's global chief operating officer and chief financial officer.
William H. Strong is vice chairman in the investment banking division of Morgan Stanley, a position he has held since 1993. During this time, he has been involved in numerous high-profile mergers, acquisitions, IPOs, and other transactions in more than twenty countries. Prior to Morgan Stanley, Strong spent over ten years at Salomon Brothers, most recently as head of international investment banking. In July 2008, he was requested by the Office of the Secretary of Defense to organize and lead an economic mission to Iraq for industries important in the early phases of reconstruction.
Date and Location:
Tuesday, September 29, 2009
720 S. Michigan Avenue
7:30 a.m. - Registration and Continental Breakfast
8:00 a.m. - Panel Discussion and Q & A
9:30 a.m. - Adjournment
Members of CFA Chicago - $38
Nonmembers - $48
The Chicago Council on Global Affairs
332 South Michigan, Suite 1100
Chicago, Illinois 60604-4416
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