March Policy Conference: Restoring Financial and Economic Stability

When NABE convenes its 25th Annual Washington Economic Policy Conference next March, the administration of President Barack Obama will be just six weeks old and it will be prime time for exploring options for legislation and policy changes.

The theme of the conference is “Restoring Financial and Economic Stability” and it will take place March 1-3 at the Marriott Key Bridge Hotel in Arlington, Va. Arrive early and attend the NABE president’s welcome reception the evening of Sunday, March 1.

A special evening reception is set for March 2 at the Federal Reserve in the Foggy Bottom area of Washington, D.C.  And, as is a hallmark of NABE meetings, there will be ample networking opportunities.  Get Connected will host an event, too.

Organizers point out that the timing of the conference is within the first 100 days of the new Obama administration.  At that point in early March, “the new administration will have some distance on the problems and will be looking at solutions,” observed William Strauss, NABE board member and one of the organizers of the policy conference.  “For the first time in eight years, there will be new policy directions” that will affect how economists assess the outlook in general and the industries they represent, he added.

“There will be a new team in town and by early March, the major appointees will be in place and business economists can learn a lot” by hearing from new policymakers and attending sessions on key issues, said Paul Bennett, the other lead organizer of the conference.

Invited speakers include Treasury Secretary-designate Timothy Geithner, president of the New York Federal Reserve; Council of Economic Advisers Chair-designate Christina Romer, University of California-Berkeley; and Rep. Jack Spratt, chairman of the House Budget Committee.

As of mid-December, the confirmed speakers include Lawrence Lindsey, who served as chair of President Bush’s National Economic Council from 2001-2002; and William Gale, the Brookings Institution.

Policy Options, Regulatory Reforms Will Be Highlighted

While the economy will presumably be somewhat stronger next spring, there will no doubt remain many uncertainties about the outlook and “there is a good probability of a need for stimulative policies” that will be debated at the conference, Bennett said.  “There will be short-run aspects and long-run perspectives to discuss” as policies emerge and legislative measures are considered, he noted.

It will also be an important time to gauge how the financial regulatory climate is changing, Strauss pointed out. “Many people are concerned that we will have new regulations in place and that the pendulum will swing too far” to correct perceived shortcomings in recent years, he said.

Other NABE members serving on the policy conference program committee are Richard Wobbekind, Richard Brown, Stuart Mackintosh, Parul Jain, Nayantara Hensel, Diane Swonk, Sviatlana Francis, and Nicole Firment.

Concurrent sessions will focus on: controlling healthcare spending; state and local government finances; transforming the defense industry; energy independence; monetary policy and new Federal Reserve tools; education, technology, and the labor force; and economic stabilization policy.

Global aspects of the economic downturn and restructuring of the financial sector are also on the agenda. Topics include international organizations and government policies that address the economic downturn in other countries, implications for outsourcing of jobs by U.S. companies, and U.S. manufacturing and trade shifts that are likely to occur as the economies of different trading partners grapple with recession.

Registration is available through the new Web portal. You will need your NABE membership number to activate your account on the Web portal.  If you have not received your membership number (they were emailed by the NABE office to all members at the end of November), please contact the NABE office at (202) 463-6223 for assistance.

Call to Jazz Musicians!

Jazz musicians, bring your saxe, horn, voice, or whatever to the policy conference for our third annual jam session set for the evening welcome reception on Sunday, March 1. Enthusiasm is more important than proficiency. If you sound like Stan Getz or Diana Krall, that’s cool; if you play outside—either on purpose or by accident—that’s cool, too. Our focus will be on relatively simple tunes—a mix of standards, blues, bossas and bebop tunes—in order to maximize participation. Head charts in C, B-flat, and E-flat will be provided. Also, the room will have a piano, drum set, and stands. We need to know how many will show up and what instruments, so please contact Bob Crow at (650) 343-7615 or rtcrow@comcast.net to let him know if you will participate and to offer comments and suggestions. Drop your inhibitions, bring your instrument, and be there!