Northwest Council: Economic Outlook
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When: Thursday, November 8, 2018
11:30 AM - 1:00 PM
Where: Giovanni's
610 N. Bell School Road
Rockford, Illinois  61107
United States
Presenter: William Strauss, Federal Reserve Bank of Chicago
Contact: Dee Farris

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We are in the tenth year of the economic expansion (the second longest in U.S. history) following the “Great Recession” of 2008 and 2009. During the economic downturn the economy experienced outsized losses in the housing, manufacturing and jobs.  Yet, the recovery and expansion has been restrained, although it has picked-up steam over the past year and a half.  While unemployment rates are very low, solid wage gains remains elusive.  Inflation has only recently reached the Federal Reserve's target after being well below it for several years and the Fed has been removing its very accommodative policy. Mr. Strauss will look at the performance of the overall macro economy with specific attention paid to key economic sectors and indicators for the U.S. economy over the next several years.


William Strauss

William A. Strauss is a Senior Economist and Economic Advisor in the Economic Research Department at the Federal Reserve Bank of Chicago, which he joined in 1982.  His chief responsibilities include analyzing the current performance of both the Midwest economy and the manufacturing sector for use in monetary policy.  He organizes the Bank's Economic Outlook Symposium and Automotive Outlook Symposium. In addition, he conducts industrial and manufacturing roundtables throughout the year.


Mr. Strauss earned a B.A. in economics and geography from the State University of New York at Buffalo, and an M.A. in economics from Northwestern University.  Mr. Strauss is a Certified Business Economist™ (CBE), the certification in business economics and data analytics developed by the National Association for Business Economics.  It documents a professional’s accomplishment, experience, abilities, and demonstrates mastery of the body of knowledge critical for a successful career in the field of economics and data analytics.


He has taught as an adjunct faculty member at Loyola University Chicago and Webster University in Chicago.  He currently teaches at DePaul University Kellstadt Graduate School of Business, and at the University of Chicago Graham School of Continuing Liberal and Professional Studies.  At the latter institution, he was named winner of the 2010 Excellence in Teaching Award in the Business and Professional Programs.  He was recognized by the University at Buffalo as a Distinguished Alumni in 2012. Strauss was named a Fellow of the National Association for Business Economics in 2017.


His research papers include analysis of the manufacturing sector, the automotive sector, the Midwest regional economy, the trade-weighted dollar, business cycles, and Federal Reserve payments operations.


Mr. Strauss has been interviewed on numerous television and radio shows and quoted in the major business magazines and newspapers. He has also provided testimony concerning manufacturing issues to the U.S. Senate.


He is a past president of the Chicago Association of Business Economists; a past board member for the National Association for Business Economics; a member of the National Business Economics Issues Council; a member of the Dean’s Advisory Council for the University at Buffalo; a member of the Advisory Board for the Center of Excellence on Human Capital, Technology Transfer, & Economic Growth and Development, a member of the Advisory Council for the University of Illinois at Chicago’s Center for Economic Education; a member of the Economic Advisory Committee for the Council on Competitiveness; an advisory council member of the Global Interdependence Center; and a member of the Council of Great Lakes Governors Maritime Advisory Committee.



11:30 am - Registration
12 noon - Program


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