ECNY: Hosting Video Webinar

Ambassador Charles H. Rivkin, Chairman and CEO of the MPAA in discussion with Andrew Ross Sorkin. A special conversation about the dynamic changes underway in global creative economy, including streaming, film, and television.

ECNY: Hosting Video Webinar

David Cote discusses his new book, "WINNING NOW, WINNING LATER: How Companies Can Win in the Short Term While Investing in the Long Term".

Cote rails against today's trend of "short-termism" and debunks the notion that pursuing long term business growth must come at the expense of short term gains.

U.S. News & World Report:  A Week to Watch for the U.S. Economy

The Federal Reserve holds a two-day meeting beginning Tuesday and while it is unlikely the central bank will budge from its commitment to do everything in its power to keep the economy afloat, analysts will be parsing every word that comes from the mouth of Chairman Jerome Powell.

Goldman Sachs CEO David Solomon summed up the view of most economists and Wall Street executives on Wednesday. "The economic reality is that we are still facing a very, very uncertain economic environment," Soloman said while speaking at a conference of the Economic Club of New York, according to CNBC.()


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BUSINESS INSIDER:   Wall Street giants urge Congress to fast-track 'expensive' stimulus bill before recession worsens

The economy is "still facing a very, very uncertain" outlook, Goldman Sachs CEO David Solomon said Wednesday, and a hefty government response is likely the best option for stemming additional pain.  "Even though it's hard and it's expensive, we are better to blunt the economic impact now in the short term, by spending more, than to allow it to get worse and deal with the consequences of being worse," he said in an online event hosted by the Economic Club of New York.

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CNBC Goldman Sachs CEO David Solomon on US economic outlook: `We’re in for a very bumpy ride’


Goldman Sachs CEO David Solomon said Wednesday that the U.S. economy will be hampered by high unemployment and a plodding recovery because of the coronavirus pandemic.

“The economic reality is that we are still facing a very, very uncertain economic environment,” Solomon said during a conference held by the Economic Club of New York.
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ECNY: Hosting Video Webinar

Chairman and CEO of Goldman Sachs, David M. Solomon joins The Economic Club of New York for a conversation, moderated by David McCormick, CEO of Bridgewater Associates, to discuss his approach to leadership, the impact COVID-19 has had on his business and the overall economy, as well as efforts to support the community.

ECNY: Hosting Video Webinar

As the CEO of Activision Blizzard Bobby Kotick joins us to discuss the future of video games and how he continues to connect the world through joy and fun.

REUTERS: Trump only wants North Korea summit if real progress possible: Pompeo

Pompeo later told an online interaction with the Economic Club of New York that there was more discussion with North Korea than was publicly noticed and he was “hopeful” it would be possible to have a senior-level discussion before too long.

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REUTERS:  Fed officials warn on 'thick fog' ahead for U.S. economy as recovery concerns deepen

James Bullard, the St. Louis Fed president, sounded a somewhat optimistic note, saying his base case is the economy continues to grow in the second half of the year, but still offered caution. “The downside risk is nevertheless substantial, and better execution of a granular, risk-based policy will be critical to keep the economy out of depression,” Bullard said in comments to the Economic Club of New York. He expects Congress by the end of the month to approve a “substantial” new fiscal package to keep households and businesses stable.

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BARRONS: Race for a Covid-19 Vaccine Might Have Political Side Effects


FDA officials say that they will make their decisions about the Covid-19 vaccine based on the science. On an Economic Club of New York webinar this past week, the FDA’s commissioner, Dr. Stephen Hahn, said that the agency will “call balls and strikes on the data.”


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CNBC:  How IPOs give the ‘illusion of diversity’ with underwriters, while paying minority-owned firms less

Issuers often see this practice of adding MWVBEs to the syndicate as a “feel-good, check-the-box” idea, Citigroup Vice Chairman Raymond McGuire said last month in remarks at the Economic Club of New York. “But is it anything material? No,” McGuire said.


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THE WALL STREET JOURNAL:  Fed’s Bullard Says Economy Can Rebound in Second Half of Year

"The macroeconomic news for May and June, reported with a lag, seems to suggest that April will prove to be the lowest point of the crisis," Mr. Bullard said in a presentation for a meeting of the Economic Club of New York. 

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ECNY: Hosting Video Webinar

The Honorable Michael R. Pompeo, U.S. Secretary of State, will discuss the day's most important topics affecting the global economy and the impact of COVID-19, such as trade, reopening, cyber security and much more.

ECNY: Hosting Video Webinar

Conversation with Dr. Stephen Hahn, Commissioner of the FDA. Discussing the FDA's response to the COVID-19 pandemic, including efforts to support the development of treatments and a vaccine.

MARKET WATCH: 
Fed’s Bullard says stock market’s optimism has been proven right, so far

“Equity markets are something we don’t usually talk about at the Fed. I think they have been optimistic and they have been right, I think, up to now anyway,” Bullard told reporters during a speech that was web cast by the Economic Club of New York.

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ECNY: Hosting Video Webinar

President and CEO of the Federal Reserve Bank of St. Louis, James Bullard, addresses ECNY -- on the current monetary policy and his expectations for the U.S. economy in the second half of the year.

ECONOMIC CLUB OF NEW YORK ELEVATES JOHN C. WILLIAMS TO CHAIRMAN AND ANNOUNCES THREE NEW TRUSTEES OF THEIR BOARD OF DIRECTORS

July 1, 2020, New York City, NY -- On June 24, the Economic Club of New York announced the election of John C. Williams to the chairman of its board of directors. In addition, three new trustees joined the board: Lee S. Ainslie, Ajay Banga, and Stephanie Cohen.

“It is an honor to help lead the Economic Club of New York,” noted Williams. “The ECNY has a long history of surfacing and discussing the issues most critical to our nation’s economy, which has never been more important than during these difficult times. I look forward to building on that legacy and furthering this important dialogue.”

Williams is President & CEO of the Federal Reserve Bank of New York and serves as the vice-chairman and a permanent member of the Federal Open Market Committee. Williams holds a Ph.D. in economics from Stanford University, an M.S. degree from the London School of Economics, and an A.B. from the University of California at Berkeley.

Barbara Van Allen, President of the Economic Club of New York added, “At pivotal points in our 113 year Club history, we have had the honor of having the President and CEO of the New York Federal Reserve Bank serve as its chair and we are delighted to see this continue with John’s very able leadership for the next two years.”

In addition to Williams becoming chairman, three other Economic Club members joined the board. They include:

Lee S. Ainslie, III, who is the founder and managing partner of Maverick Capital. In addition to his service to the Economic Club of New York, he serves on the boards of the Robin Hood Foundation, the Partnership for New York City, the New York-Presbyterian Hospital, and the Episcopal High School in Alexandria, VA. Ainslie is a graduate of the University of Virginia and holds an M.B.A. from the University of North Carolina.

Ajay Banga is chief executive officer of Mastercard and a member of its board of directors. He will become executive chairman of the board of directors on January 1, 2021. In addition to his service on the Board of the Economic Club of New York, Banga is a co-founder of The Cyber Readiness Institute, first vice-chairman of the International Chamber of Commerce, a trustee of the United States Council for International Business, a founding trustee of the U.S.-India Strategic Partnership Forum, a member of the U.S.-India CEO Forum, is Chairman Emeritus of the American India Foundation, a fellow of the Foreign Policy Association, a member of the board of overseers of the Weill Cornell Medical College and serves as a director of Dow Inc.’s compensation and governance committees. He is a graduate of Delhi University and the Indian Institute of Management, Ahmedabad.

Stephanie Cohen is Goldman Sachs’ Chief Strategy Officer and a member of the Management Committee. Ms. Cohen is a member of the Firmwide Asset Liability Committee and Global Inclusion & Diversity Committee, serving as Co-Global Executive Sponsor of the Women's Network. In partnership with divisional leaders, Cohen drives strategy and M&A for the firm and embeds diversity and innovation into the firm’s businesses. In addition to her service on the Board of the Economic Club of New York, she also serves on the National Board of Directors of CollegeSpring and the Board of Quill.org.

For more information on the Economic Club of New York, visit www.econclubny.com and follow the Club on Facebook, Twitter, LinkedIn, and Instagram.

About Economic Club of New York
The Economic Club of New York is a membership organization with members drawn from the top executive levels of business, industry and finance. The purpose of the Club is to promote the study and discussion of social, economic and political questions. Founded in 1907, the Club has served ever since as a major forum for discussion on a wide range of public issues of interest to business people. The Club is nonpolitical, nonpartisan and nonprofit. Its membership (individual, not corporate) of over 1,200 is drawn primarily from the senior leadership ranks of the business and financial communities and the associated professions. Its individual members represent a wide diversity of opinion.


 

VANITY FAIR:   “I COULD EASILY BE GEORGE FLOYD”: WALL STREET’S SENIOR BLACK BANKER TALKS ABOUT BIGGIE AND THE HOPE OF BLM

Last week, McGuire and Marie-Josée Kravis, the chair of the Economic Club of New York and the wife of billionaire buyout mogul Henry Kravis, took to Zoom to discuss a variety of issues, but mostly they focused on the growing Black Lives Matter movement, the insidiousness of systemic racism in America’s Black communities, and what can be done to make sure Black Americans have greater economic opportunity and a greater chance of creating real wealth.

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ECNY: Hosting Video Webinar

Kristalina Georgieva, Managing Director of the IMF, and ECNY's Vice Chairman, John C. Williams discuss IMF's forward-moving action plan to put the global economy back on track following the economic impact of COVID-19.

YAHOO FINANCE:  Citi’s Ray McGuire Rebukes Companies ‘Checking the Box’ on Diversity

“Certainly it checks the box but is anything there material? No,” McGuire said during a virtual Economic Club of New York meeting on Tuesday. “It’s a feel-good check-the-box. But it’s certainly not advancing any of this.”

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