A full house packed into NYU’s Paulson Auditorium today to see three of our favorite Wall Street economists: David Greenlaw (Morgan Stanley), Jan Hatzius (Goldman Sachs), and Peter Hooper (Deutsche Bank). The event? The first Economic Outlook Forum of the Center for Global Economics and Business hosted by our own Kim Schoenholtz.
The forum covered a broad range of issues, including US monetary and fiscal policy, Europe, and China. Here are some highlights (quotes approximate):
- “How big is the fiscal cliff in the US? Something like 5% of GDP in 2013. We’ve never seen anything like this.”
- “The ECB has taken actions to reduce tail risk.”
- “We’re hopeful we will see forceful action out of the ECB.”
- “If you take a longer-term perspective, global equities are cheap.”
- “The Euro Area deserves credit for progress already made.”
- “Risk is over-emphasized in financial markets right now.”
Update: link to video of the whole event.