S. Wesbury '89
guru and alum addresses Kellogg School TMP community
S. Wesbury '89, named the "best economic forecaster" by
The Wall Street Journal for 2001, presented his insights
the U.S. economy to students, alumni and prospective students
at the Kellogg School's Alumni Speaker Series.
The speech, held Feb. 4, launched the new speaker series
sponsored by the Kellogg part-time
MBA program, The Managers' Program.
Wesbury addressed tensions in the United States following
the war in Iraq, changes in the technology industry and concerns
over an increase in jobs moving offshore. He nevertheless
forecasted positive trends for the U.S. economy, predicting
that growth will be similar to what was seen in the late
first vice president and chief economist at the investment
banking firm Griffin, Kubik, Stephens & Thompson
Inc., said he expects that interest rates will increase around
May 2004 and that there will be a 6 percent treasury yield
within the next year. Additionally, unemployment rates will
fall, he predicted, and inflation will rise to 3 percent
in 2004 and 4 percent in 2005. 2004 will also provide 20
to 25 percent growth in profits for companies, he said.
"In the end," Wesbury said, "I'm
very optimistic about the future."
For more than 20 years, Wesbury has been forecasting
the economy for the U.S. Congress, investors, bankers and
traders. He is regularly featured on CNBC and CNN and in Barron's,
Investor's Business Daily and Forbes.
--- Terry Jimenez