John Williams,
President and CEO, Federal Reserve Bank of San Francisco
Moderator:
Ross DeVol, Chief Research Officer, Milken Institute
Recent news on the U.S. economy has been more upbeat despite weakness in the euro zone and a slowdown in the BRICs and other emerging economies. Growth in U.S. real GDP finally hit 3 percent in the fourth quarter of 2011, and job creation has exceeded the critical 200,000 per month mark. Consumers are purchasing cars again, and businesses are funneling profits back into investment for efficiency gains and expansion. But does the recovery really have legs? Many downside risks remain, including gas prices, a housing market that continues to sputter, and ongoing declines in state and local employment. Will policy uncertainty from Washington restrict investment and risk-taking by businesses? Can Washington reach a compromise on taxes and spending that will reduce the medium-term deficit but not bite too hard in the near term? Will faltering economic growth outside the U.S. harm export growth? Will the Fed implement a QE3 strategy? This panel will offer a big-picture look at where the U.S. is headed.
Global Conference 2013
Former Prime Minister Tony Blair, philanthropist Bill Gates and Strive Masiyiwa of Econet Wireless discuss advancing prosperity in Africa.
