Women Corporate Directors - Boston
Monday, April 29, 2018 Dinner
The Colonnade Hotel, 120 Huntington Ave., Boston
6:00 PM Cocktails, 7:00 PM Dinner and Discussion
The U.S. economy: No more fat pitches!
What directors need to know as we approach the 2020 planning season
As the U.S. economic expansion continues into 2019, various indicators such as the historically low rate of unemployment coupled with low inflation and a cautious posture by the Federal Reserve are providing optimism the economy will make a new record as the longest expansion ever. Yet, a late-cycle slowdown in growth is inevitable. The big question, indeed the elephant in the boardroom, so to speak, is whether the U.S. will enter a period of recession in the coming year or two?
It’s becoming clearer with each day that the world economy has not fared quite as well as the U.S. over the past decade. Slowing Chinese growth impacts everything from commodities to European exports. Europe has reignited its quantitative easing program only to discover that monetary policy cannot cure structural problems. Italy has fallen back into recession and Germany saw growth slow significantly in the second half of 2018. Japan hasn’t seen more than two consecutive years of sustained growth in any period over the past decade. Emerging markets have amassed enormous piles of U.S. dollar-denominated debt leaving them exposed to currency fluctuations.
So, how is all of this likely to impact the U.S. at this late stage in the expansion? Constance Hunter, KPMG’s Chief Economist will strip away the hype and reveal both the opportunities and the very real risks present in the global economy.
We will then turn to our members for table discussions of how boards should factor these insights into their plans for 2020.
Constance L. Hunter, Principal and Chief Economist, KPMG LLP
As KPMG’s Chief Economist, Constance Hunter heads macroeconomic research, analytics and forecasting for the firm. She works closely with the firm’s leadership and clients to identify inflection points, risks and opportunities that arise in the constantly evolving economic landscape. She is known for correctly calling economic indicators that presage market turning points such as the Russian currency devaluation in 1998, the Dotcom bubble in 2001, the real estate and credit crisis in 2007-08, the recovery of the housing market and concurrent low bond yields in 2012, and the continued low bond yields during the recovery.
Prior to joining KPMG in 2013, Constance held high-level positions in the asset management sector for nearly two decades serving in the capacity of Chief Investment Officer or Chief Economist for a significant portion of that time. At AXA Investment Managers she helped manage over $500 billion in fixed income assets.
Constance is a recognized economic thought leader, who was recently named vice president of the National Association for Business Economics (NABE), from which she holds the Certified Business Economist designation. She is a regular speaker at conferences on a wide variety of macroeconomic topics and a frequent guest on all major financial media channels.
Constance graduated with a BA in Economics and Sociology from New York University, and holds a Master’s of International Affairs with a concentration in international economics from Columbia University’s School of International and Public Affairs (SIPA).
Please RSVP to Pam Lenehan: [email protected] or 781-449-9665