Media Placements
| ■ | Wall Street Journal, Aug 29, 2010, "Jackson Hole dispute: does economy need more medicine?"" – Diane Swonk, chief economist, comments in this article on the division amongst Fed policy makers. |
| ■ | Forbes, Aug 28, 2010, "Bernanke speech shows effort to find Fed consensus" – Chief Economist, Diane Swonk is quoted in this piece discussing Fed Chairman Ben Bernanke's willingness to do what he can to avoid a 'double-dip' recession. |
| ■ | Bloomberg, Aug 27, 2010, "Bernanke, Trichet Economic Paths May Diverge at Jackson Hole" – Diane Swonk, chief economist, discusses in this article what she's hoping to hear in Fed Chairman Ben Bernanke's speech at the Jackson Hole, WY conference. |
| ■ | The Washington Post, Aug 26, 2010, "Fed policy foggy as the economic picture clouds" – Chief economist, Diane Swonk, comments on Fed chairman, Ben Bernanke, in this article. |
| ■ | San Francisco Chronicle, Aug 25, 2010, "Commercial Paper Outstanding Falls Most Since May" – Adolfo Laurenti, deputy chief economist, is quoted in this article. |
| ■ | USA Today, Aug 25, 2010, "Sharp home sales drop sparks host of reactions: What economic experts, real estate pros and sellers have to say" – Chief economist, Diane Swonk, is among the economists quoted in this article on the recent home sales decline. |
| ■ | Chicago Sun-Times, Aug 24, 2010, "5 ways to survive possible deflation" – Diane Swonk, chief economist, is quoted in this article that provides tips on economic survival for consumers during a period of strong deflation. |
| ■ | The Bond Buyer, Aug 24, 2010, "Calif. Market Close: Tax-Exempts Return to Record-Lows" – The article discusses record-low municipal yields, and quotes Diane Swonk, chief economist. |
| ■ | First Business News, Aug 20, 2010, "Anemic Economy" – Adolfo Laurenti, deputy chief economist, comments on the possibility of the recovery worsening in this segment. |
| ■ | USA Today, Aug 20, 2010, "Nothing but awful' economic news - Jobless claims up; Mid-Atlantic manufacturing activity craters" – Diane Swonk, chief economist, comments in the article detailing disappointing economic data. |
| ■ | WGN Radio 720 AM, Aug 17, 2010, "Diane Swonk Talks Baby Boomers with Greg" – Diane Swonk, chief economist, discusses the finances of Baby Boomers with morning host Greg Jarrett in this segment. |
| ■ | FOX Business, Aug 16, 2010, "Pondering the Fate of Fannie, Freddie" – Adolfo Laurenti, deputy chief economist, is quoted in the article, which discusses the potential fate facing Fannie Mae and Freddie Mac. |
| ■ | The Washington Post, Aug 14, 2010, "Economic indicators reflect weak recovery" – Diane Swonk, chief economist, is quoted in this piece, analyzing the implications of an extremely slow recovery. |
| ■ | ABC's Good Morning America, Aug 13, 2010, "Rising Fears of a Double-Dip Recession" – Chief economist, Diane Swonk, is quoted in this segment, discussing job losses. |
| ■ | ABC World News with Diane Sawyer, Aug 12, 2010, "The New Normal: A Jobless Recovery?" – Diane Swonk, chief economist, provides insight on a disappointing jobs report in this segment. |
| ■ | American Public Radio, Aug 12, 2010, "Marketplace Morning Report" – MarketPlace Radio features chief economist, Diane Swonk’s, comments on dismal unemployment report in this segment. |
| ■ | International Business Times, Aug 12, 2010, "Jobless claims unexpectedly increased to 484,000" – International Business Times quotes chief economist, Diane Swonk, on jobless claims in this article. |
| ■ | The Bond Buyer, Aug 08, 2010, "Payrolls Down 131,000; Jobless Rate Stays 9.5%" – Diane Swonk, chief economist, is quoted in this article, which discusses jobless claims and the unemployed who have left the labor market. |
| ■ | Chicago Sun-Times, Aug 07, 2010, "Job creation lagging while cuts continue" – Diane Swonk, chief economist, comments on the July jobs report in this article. |
| ■ | CBS, Aug 06, 2010, "Evening News" – Chief economist, Diane Swonk, provides insight on jobs recovery in this segment. |
| ■ | CNBC, Aug 06, 2010, "Predicting the July Jobs Number" – Chief economist, Diane Swonk, weighs in on anticipated job losses and how to spur recovery in this segment. |
| ■ | International Business Times, Aug 03, 2010, "Fed quantitative easing may resume, economists puzzled and skeptical" – In this article, Diane Swonk, chief economist, discusses the ineffectiveness of monetary easing to cure the crisis. |
| ■ | CNN - Your Money, Jul 31, 2010, "Financial Fear Factor; Taxes" – In this segment, chief economist, Diane Swonk, comments on the sluggish recovery. |
| ■ | CBS, Jul 30, 2010, "A Look Back at a Big Week on Wall Street" – Adolfo Laurenti, deputy chief economist, discusses deflation and the affects of the stimulus on "Monsters & Money in the Morning." |
| ■ | FOX Business, Jul 30, 2010, "Growing Support for Extension of Tax Cuts" – Diane Swonk, chief economist, comments on economic growth and tax cuts in this segment. |
| ■ | NBC Nightly News, Jul 30, 2010, "Obama plugs economic jump-start" – Chief economist, Diane Swonk, comments on needed growth for recovery in this clip. |
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International Business Times,
Jul 29, 2010,
"BEA to publish GDP revisions for past three years" –
The article features Diane Swonk, chief economist, anticipating the results of the Bureau of Economic Analysis' release of its annual GDP revisions. |
| ■ | CNBC, Jul 27, 2010, "US Economy in Slow Recovery" – The interview includes Diane Swonk, chief economist, commenting on consumer confidence. She also discusses inflationary pressures in a previous segment. |
| ■ | CNBC Asia, Jul 27, 2010, "Is it All Rosy in China?" – In this segment, Diane Swonk, chief economist, discusses China’s role in the global economy. |
| ■ | The Bond Buyer, Jul 26, 2010, "New Home Sales Surge 23.6% to 330,000 Rate" – Diane Swonk, chief economist, provides insight on lagging new home sales. |
| ■ | CBS, Jul 23, 2010, "Analysis: The Forecast for the Global Economy" – Adolfo Laurenti, deputy chief economist, is featured in this "Monsters & Money in the Morning" segment and comments on skepticism surrounding the euro stress test. |
| ■ | CNBC, Jul 22, 2010, "Economists React to Bernanke Testimony" – In this segment, Diane Swonk, chief economist, discusses the comments of Federal Reserve Board Chairman, Ben Bernanke, and what may be necessary to avoid a double-dip recession. |
| ■ | CNBC's Kudlow Report, Jul 22, 2010, "Parsing Bernanke" – In the broadcast, Diane Swonk, chief economist, discusses the Fed’s options for aiding in a recovery. |
| ■ | YahooNews, Jul 22, 2010, "Obama signs off on finance reform bill" – The article discusses the passage of the financial reform bill, and how it may impact the economy. Diane Swonk, chief economist, was quoted as saying, “We will have more regulators overseeing - but not necessarily averting - risk, and with a bill so large and undefined, we are likely to get more, in terms of unintended than intended consequences, going forward.” |
| ■ | International Business Times, Jul 21, 2010, "Economic pros and cons of extending unemployment insurance" – The article discusses the potential extension of unemployment benefits, and what impact that could have on the economy. Diane Swonk, chief economist, is quoted as stating, “Nearly everything that is received via unemployment insurance is spent,” rather than saved. |
| ■ | The Bond Buyer, Jul 20, 2010, "Housing Starts Fall 5.0%; Permits Increase 2.1%" – Diane Swonk, chief economist, comments on housing starts and the housing market's fragility. |
| ■ | WYNC News, Jul 16, 2010, "Financial 411: New Rules of the Road, Goldman?s Settlement with the SEC" – In this podcast, Diane Swonk, chief economist, discusses financial reform, the potential for a double-dip recession and the recent Goldman Sachs settlement. |
| ■ | The Wall Street Journal, Jul 15, 2010, "Economists Split Over Financial Overhaul" – In this blog, Diane Swonk, chief economist, is among the economists surveyed by The Wall Street Journal on the financial-regulatory bill. She was quoted as stating, “The legislation is outpacing our understanding of the crisis, and I would like to make sure that we learn something from what went wrong before we legislate a new problem.” |
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International Business Times,
Jul 14, 2010,
"Surging corporate earnings will eventually lower unemployment rate" –
The article discusses the stagnant jobs market and the reluctance of corporations to hire. Diane Swonk, chief economist, is quoted as stating that we are “still at least three to four months away from a more substantive pick up in hiring and even then it is expected to remain subdued.” |
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Reuters Chicago Bureau,
Jul 14, 2010,
"Reuters Insider" –
The video segment features Diane Swonk, chief economist, discussing |
| ■ | SNL Financial, Jul 14, 2010, "Analysts see growing gap between FOMC policymakers" – The article features Diane Swonk, chief economist, in its examination of the Federal Open Market Committee's recent meeting, and the differing opinions about the wait-and-see approach, versus a more aggressive stance. |
| ■ | The KNX Business Hour, Jul 14, 2010, "Business Hour with Frank Mottek" – The radio program featured Diane Swonk, chief economist, in a discussion about the weak job recovery and worries about inflation vs. deflation. |
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Los Angeles Times - Online,
Jul 13, 2010,
"Surprise jump in trade deficit worries economists" –
Diane Swonk, chief economist, attributed much of the surprising import gains to stockpiling by retailers and producers who are fearful of a potential trade war with China. "This is a distortion; it's not reflective of domestic demand," said Swonk, referring to the higher deficit in May. She added that the report was disturbing because it points up the political and economic risks weighing on the economy. |
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WGNtv.com,
Jul 13, 2010,
"As Americans Appetite for Foreign Goods Surges Back, the May Trade Deficit Soars Too" –
Diane Swonk, chief economist, said she thought some of the import growth resulted from stockpiling -- retailers and producers buying more foreign goods than they needed now out of concern about a potential trade war with China. Some U.S. lawmakers have long threatened to take tougher action against China to curb the large trade deficit with the Asian nation. |
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Detroit Free Press - Online,
Jul 11, 2010,
"Economic recovery seems stalled in traffic" –
The recovery feels like it's stuck in a traffic jam, according to Diane Swonk, chief economist. "We aren't sure if an accident (the European debt debacle) is delaying us, a stalled car (housing), or road construction (deleveraging of the U.S. consumer)," she stated. So this recovery feels like going north on I-75 around Flint on a holiday weekend. The recovery could face another detour over the summer, if the consumer pays down more debt and holds back spending, Swonk said. One big flashing yellow signal: the Dow at 10,000. |
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New York Post,
Jul 10, 2010,
"Obama Change Economic Team" –
The article suggests replacements for the current Obama Economic Team, including Diane Swonk, chief economist, Midwest charmer and Chicago's quasi-economic folk hero, in place of Larry Summers. She's articulate, she understands economics and she is a moderate Democrat. She has already had a White House sit-down. That said, she is very close to the auto industry, which is a part of the economy not exactly in growth mode. |
| ■ | ABC Local Online, Jul 09, 2010, "Economy tempers American enthusiasm for the road" – The recovery is "like moving forward in a traffic jam," says Diane Swonk, chief economist. "You're moving forward, but the longer you're in it, the more frustrated you get. And the uncertainty of not knowing what's stopping you, what's slowing you down." |
| ■ | Boston Globe, Jul 09, 2010, "Jobless claims paint an unclear picture" – Diane Swonk, chief economist at Mesirow Financial, said many people losing extended unemployment may seek aid through Social Security, food stamps, and welfare. |
| ■ | CNBC.com, Jul 08, 2010, "Jobless claims keep fluctuating as recovery slows" – Diane Swonk, chief economist, said many people losing extended unemployment may seek aid through Social Security, food stamps and welfare. |
| ■ | FOX Business Network Online, Jul 08, 2010, "Regulation's Role in Slowing the Economy" – Adolfo Laurenti, deputy chief economist, says that part of the blame can be put on the White House, ranging from the recently enacted health-care legislation, which requires employers to provide a certain level of health benefits, the financial regulatory bill pending in Congress and the possible passage of a “cap and trade” bill. “This administration is willing to provide macro support for this economy through spending or individual support, but businesses are not getting the sympathy they need,” Laurenti said. |
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Investment Dealers' Digest,
Jul 08, 2010,
"Initial Claims at 454,000; Continuing Claims Drop" –
Diane Swonk, chief economist, cautioned against viewing the declines in a favorable light, noting that they reflect the loss of job seekers who have exhausted benefits and stopped looking for work. Unemployment benefits for more than one million Americans expired July 1 after Congress failed to extend them. |
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The Bond Buyer,
Jul 05, 2010,
"Nonfarm Payrolls Fall 125K; Joblessness at 9.5%" –
Adolfo Laurenti, deputy chief economist, said the lower jobless rate was mostly due to people exiting the workforce at a faster clip. That happens when idle workers stop looking for work. "The latest data is not pretty," Laurenti wrote in a research note. "This recovery, which was never robust in the first place, enters the summer with a weak labor market. Although we expect that private payrolls will continue to grow, the current pace of improvement is too slow to provide any relief to the people struggling to find jobs." |
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The Bond Buyer,
Jun 30, 2010,
"ADP Payrolls Up 13,000, Way Down From Forecast" –
"Large companies are regaining confidence and appear to be dipping their toes back in the water of hiring again," said Diane Swonk, chief economist. "Small businesses, which generate the lion's share of new jobs in the U.S., however, remain hesitant to hire." |
| ■ | Bloomberg BusinessWeek - Online, Jun 22, 2010, "Housing Market Threatens U.S. Recovery as Sales Slide Resumes" – "This is a recession that was induced by housing, and housing is not going to carry us out like it has done in the past," warns Chief Economist Diane Swonk in Bloomberg BusinessWeek - Online. |
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Los Angeles Times - Online,
May 06, 2010,
"GDP grows 3.2% in first quarter, helped by consumer spending" –
"It's a recovery, but by any standard it's still a muted recovery," said Diane Swonk, chief economist, commenting on GDP growth in the first quarter. "At the end of the day, none of this really matters unless we can get the employment machine going, which is coming, but very slowly." |
| ■ | Chicago Tribune Online, May 05, 2010, "DuPage Business Leaders Optimistic After Difficult Times" – Diane Swonk, chief economist, was the keynote speaker at the DuPage County Regional Business Outlook and Executive Briefing sponsored by Choose DuPage, Ice Miller LLP and Mesirow Financial. In the article Swonk discusses the current economy and its recovery. "The [financial] crisis was like a major earthquake; we are still feeling some of its aftershocks. But here we are today in a recovery. It's remarkable what we have endured." |
| ■ | Reuters, May 05, 2010, "Greece cannot avoid default: Mesirow economist" – "There's really no way Greece can make it other than default," said Adolfo Laurenti, deputy chief economist, in an interview with Reuters today. Laurenti said he expects the euro to dip below $1.25. "It'll be sooner rather than later. It might be a matter of weeks," he said. Read the full interview. |
| ■ | First Business, May 04, 2010, "Could the soveriegn debt crisis serve as a warning sign of the next big economic melt down for the United States?" – "...the situation in Greece is really, really bad." Deputy Chief Economist Adolfo Laurenti tells First Business.."They need a lot of money. They need that money soon. The help that has been decided over the weekend may help for some time, but probably there will be the need for further action down the road," adds Laurenti. Watch the interview. |
| ■ | Cable News Network, Apr 26, 2010, "CNN NewsRoom" – Joining CNN's Ali Velshi and Christine Romans in a debate about proposed financial reform, Chief Economist Diane Swonk said, "The elephant in the room is Fannie Mae and Freddie Mac and underwriting mortgages, none of which are being addressed in the legislation." |
| ■ | CNBC.com, Apr 23, 2010, "New home sales, orders for most durable goods rise" – "Firms are finally putting their money where their mouths are and betting on a rebound," says Diane Swonk, chief economist, on news that March sales of new homes took the biggest monthly jump in 47 years. |
| ■ | NBC Nightly News with Brian Williams, Apr 22, 2010, "Effects of Financial Reforms on Main Street Lives" – Commenting on President Obama's proposed financial regulatory reform, Chief Economist Diane Swonk tells NBC Nightly News Anchor Brian Williams, "Well, it's the first step in a long road to rethinking how we lend and manage money in this country. It's also really important because right now financial firms don't know the rules of the game. They know they're changing but they don't know the rules. Unless they know the rules, they can't play. And what that means for Main Street is that consumers aren't getting the loans they should be getting the loans they should be getting because the big banks aren't playing and giving those loans." |
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BusinessWeek Online,
Apr 21, 2010,
"Mortgage Servicer Profits May Threaten Obama Housing Programs" –
"Those 'carrots' won't be enough to save the majority of the 4.6 million U.S. homes that have mortgages more than 90 days overdue," said Diane Swonk, chief economist, referring to the government's new incentives to lenders to approve "short sales" of homes. "The payouts at the heart of the Obama administration's programs don't come close to what servicers earn by foreclosing," she said. “The service industry has its own set of incentives, and you can't tell people to do what's not in their financial best interest, especially in an economy that is still struggling.” |
| ■ | CNBC Online, Apr 14, 2010, "Early Signs of Hiring Appear in Earnings Reports" – "It's about time. They've been making money for awhile and they've been very reluctant to hire. We know they've stopped firing, and they're seeing the light at the end of the tunnel," comments Diane Swonk, chief economist, referring to some positive signs in employment. "Companies have already dipped their toe into transitory, non-committal hiring, like temporary workers and consultants. It makes sense they want to bring back some talent before everyone else gets a hold of them," said Swonk. |
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NBC Nightly News,
Apr 13, 2010,
"Positive economic indicators not matching what people experiencing" –
"We still have a lot of hurdles," cautions Chief Economist Diane Swonk discussing recent positive economic indicators for recovery on NBC's Nightly News with Brian Williams. "Not only is unemployment still extremely high, but we also are facing many consumers that have been unemployed for a very long time." |
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Fox Business Network - Online,
Apr 06, 2010,
"Greece Crisis Cements Dollar's Dominance, Exposes Euro" –
"There is still a very good argument to make that the U.S. as a country and as an economy is really the fulcrum of the world economy. It makes a lot of sense to look at the U.S. as the safe haven,” comments Adolfo Laurenti, senior economist, on the Greek debt crisis and U.S. economic comeback. |
| ■ | Chicago Sun-Times - Online, Mar 20, 2010, "VIX has no place in stock picks" – "I remember my dentist asking me [in late 2008] why his tax dollars should keep his 'deadbeat neighbor' in a home that he clearly couldn't afford. Now, he is upset because his deadbeat neighbor's house is still empty and pulling down the value of his own home more than a year later." Diane Swonk, chief economist, is the featured closing quote in this Chicago Sun-Times - Online article. |
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Bloomberg News - Online,
Mar 17, 2010,
"Fed Pledges to Keep Rate Low for Extended Period" –
"The recovery continues and remains on track to be subpar, at best,” said Diane Swonk, chief economist, in response to news that the Fed will continue to keep interest rates low. “Businesses are finally stepping up to the plate and spending their cash flow, but the housing market and prospects for a broader-based recovery remain dim.” |
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The Wall Street Journal,
Mar 14, 2010,
"Loan Squeeze Thwarts Small-Business Revival" –
"It's a dismal situation," Diane Swonk, chief economist comments to The Wall Street Journal. "Banks won't lend to businesses because they're afraid they'll go bad, but that can become a self-fulfilling prophecy." |
| ■ | Los Angeles Times - Online, Mar 12, 2010, "Obama reportedly taps Yellen as nominee to be Fed's No. 2" – Reacting to reports that President Obama will nominate Economist Janet L. Yellen as vice chairwoman of the central bank, Chief Economist Diane Swonk (also a former advisor to the Fed), is quoted in the Los Angeles Times, among others, as saying she had known Yellen for many years, calling her "one of the sharpest knives in the drawer." |
| ■ | CNBC - Squawk Box, Mar 11, 2010, "Municipalities and States" – "It's a weird, strange dichotomy," says Chief Economist Diane Swonk on CNBC's Squawk Box. "It's one of the things that you can look at in one way - that it's positive that municipal bond issue answers are doing so well that they're creating a bridge for these states to try to figure out their financial problems. What you hope is on the other side of the bridge they figure out their financial problems. If they don't, this means deficits running just like we're running at the federal level, only disguised." |
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Medill News Service,
Mar 11, 2010,
"Deficit narrows, but recovery remains tentative" –
"The encouraging piece here is that things are moving in the right direction, albeit slowly. The fact that net exports have gained some ground really fares well for our expectations about GDP [Gross Domestic Product]," comments Deputy Chief Economist Adolfo Laurenti. "Anything that reduces our deficit is going to add to economic growth.” Laurenti estimated that the declining trade deficit could add up to 0.3 percent to his forecast for the current quarter's GDP. |
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PBS - Public Broadcasting Service,
Mar 11, 2010,
"PBS NewsHour with Jim Lehrer" –
What we are seeing is the level of consumer spending fell to such a low level, there is almost nowhere to go but up. We are seeing a lot of pent- up demand. And, in fact, a lot of the spending we`re seeing is coming from transferred income, which is everything from Social Security to unemployment insurance being continued, a lot of spending on -- not the spending on discretionary, but on necessities out there," Chief Economist Diane Swonk tells PBS NewsHour Jim Lehrer and Judy Woodruff. "...the level of spending is still extremely low, but the momentum is in the right direction." |
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CNNMoney.com,
Dec 29, 2009,
"Beware the big winners of 2009" –
"This is a modest recovery relative to historical norms, but the economy is on the mend." Chief Economist Diane Swonk shares her market pick for 2010 in a CNNMoney.com interview. "Technology is going to be big as I really think there will be increased spending on computers and other equipment." |
| ■ | Reuters, Dec 29, 2009, "Special Report: America's route to recovery" – Chief Economist Diane Swonk was recently interviewed for a Reuters special report on the economic recovery, which was syndicated throughout the country. "America's greatest ability has always been its capacity to reinvent itself," said Swonk. "We may be able to emerge stronger and better, to the possible anger and envy of some parts of the world." |
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Detroit Free Press,
Dec 27, 2009,
"Economists have reasons for optimism on outlook" –
Quoted in the Detroit Free Press, Chief Economist Diane Swonk said that economists and others often end up UNDER-estimating — not OVER-estimating — recoveries. So while the jobless rate continues to be a lagging indicator — and miserably high — some like Swonk see reasons for optimism. Even though Swonk's optimistic about the economic recovery, she said she expects the U.S. jobless rate to end up higher than 9 percent at the end of 2010. And that's one forecast, Swonk said, that she'd love to be wrong. |
| ■ | CNBC, Dec 22, 2009, "The Call" – Chief Economist Diane Swonk visits CNBC The Call to discuss whether, overall, the economy is recovering. |
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msnbc.com,
Dec 21, 2009,
"Economists see no need for more stimulus" –
Chief Economist Diane Swonk participated in the seventh annual installment of msnbc.com's year-end economic roundtable. "Although the risk of a double-dip recession is still significant, it is not the most likely scenario," Swonk said. "Moreover, there are no silver bullets when it comes to fueling employment. I think our efforts would prove better if focused on improving the health of the credit market, most notably banks, as they are now the only game in town for many consumers and small businesses." Swonk was runner-up in forecasting accuracy on msnbc.com's 2009 panel. |
| ■ | Fox Business Network, Dec 16, 2009, "Fox Business News at 1 pm" – Chief Economist Diane Swonk joins David Asman and Liz Claman discussing Fed Chairman Ben Bernanke's confirmation to a second term, and the wisdom of money being spent by Congress as 2009 winds down. |
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moneynews.com,
Dec 16, 2009,
"Swonk Credit Crunch Is Strangling Recovery" –
The “headwinds” associated with the credit crunch will linger and limit the degree to which the U.S. economy can recover from the recession, says Diane Swonk, chief economist. “We should be at 6 percent growth, rather than 3 percent,” she writes in Mesirow Financial's annual economic outlook. “The economy surged at a 7.7 percent rate for six consecutive quarters as it emerged from the recession of the early 1980s.” For the next year, Swonk says, the U.S. economy will continue to grow, but only tepidly. |
| ■ | CNBC, Dec 14, 2009, "The Call" – Diane Swonk, chief economist at Mesirow Financial, and the CNBC news team debate whether Fed Chairman Ben Bernanke deserves another term. |
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Kiplinger.com,
Dec 11, 2009,
"What's in store for the next decade?" –
Diane Swonk, chief economist, tells Kiplinger that consumers may be entering an era in which they have no choice but to spend within their means, mainly because of reduced home-equity borrowing and a contraction in credit-card use. That means consumer spending will stay sluggish by historical norms. Swonk sees spending rising by only 2.4% in 2010, versus the 5%-plus increases during the go-go years of the 1990s. |
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St. Petersburg Times,
Dec 10, 2009,
"Limbaugh Says Unemployment Drop Was Skewed by Thanksgiving Holiday" –
Commenting on the better-than-expected job numbers for November and conservative radio host Rush Limbaugh's contention that it was the result of figures being taken over the two days of Thanksgiving week when people weren't working anyway, Adolfo Laurenti, deputy chief economist, said that the job survey's reliance on 50 different state agencies for data makes it somewhat more susceptible to anomalies, such as the timing of a holiday. |
| ■ | Fox Business Network Online, Dec 06, 2009, "Job Losses Narrow to 11,000 as Labor Market Improves" – "I'm not ready to start inviting people to a party just yet," said Adolfo Laurenti, deputy chief economist, responding to better-than-expected job numbers for November. |
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Chicago Sun-Times Online,
Dec 05, 2009,
"Unemployment report leaves experts optimistic" –
Remarking on the latest unemployment report, which revealed the nation's jobless rate unexpectedly slid in November and job losses sharply declined, Chief Economist Diane Swonk says, "the trend is in the right direction." Swonk adds, "Don't pop any champagne corks, but it might be worth cracking a beer over." |
| ■ | Business First, Dec 04, 2009, "Bank of America has moved up plans to sell securities that will be used to finance the repayment of 45 billion dollars in tarp money" – Business First interviewed Deputy Chief Economist Adolfo Laurenti to get his insights on what Bank of America's move means for banks that are still holding on to some of Uncle Sam's money. "It raises the bar for all the companies in trouble. It's a powerful message of self confidence and self reliance that Bank of America is sending to the market. And that's put some squeeze over the other companies." As far as what Bank of America's move says about the overall economy, Laurenti added that he's encouraged by the amount of excess reserves held by banks at the federal reserve. |
| ■ | Medill News Services Online, Nov 25, 2009, "As expected, third quarter GDP growth revised downward" – Adolfo Laurenti, deputy chief economist called the downward third quarter GDP revision “significant.” “Once you take away ‘Cash for Clunkers' everything else in the GDP looked pretty soft,” said Laurenti. “The trade deficit was much larger than anticipated. Don't get me wrong — it's good news,” said Laurenti. “But we've got some ways to go.” |
| ■ | National Public Radio (NPR) Online, Nov 25, 2009, "Spending Up Going Into Holiday Shopping Season" – Chief Economist Diane Swonk says that the economy is growing. But she predicts that consumers will spend cautiously on Black Friday, the day after Thanksgiving and the traditional start of the holiday shopping season. |
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Associated Press (AP),
Nov 23, 2009,
"Tax credit gives home sales best boost in decade" –
"I wouldn't want to bet the house on housing, really, in terms of the strength of the U.S. economy going forward," said Diane Swonk, chief economist, as quoted in USA Today Online. |
| ■ | Cable News Network (CNN), Nov 21, 2009, "Your $$$$$" – Chief Economist Diane Swonk joins CNN's Ali Velshi from the floor of the Chicago Board of Trade, to discuss small business, China, the national debt and jobs. |
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Finance and Commerce,
Nov 19, 2009,
"Stock market gains aren't reflected in job market" –
Chief Economist Diane Swonk says that the credit crisis has changed the dynamic of the recovery. Swonk says that large companies that relied on commercial-paper borrowing to finance payrolls have to keep more cash on hand, while tighter bank-lending standards are crimping expansion plans for small companies. “It's hard to get a small-business loan; we're still talking about tightening credit conditions in the sector that creates the most jobs,” she adds. “This is a recovery that is very different, inhibited by the role that credit plays.” |
| ■ | Money Magazine/CNN Money.com, Nov 10, 2009, "Make money in 2010: The economy" – Answering the key question: Will [the Fed] continue its efforts to keep short-term interest rates low and get credit flowing, Chief Economist Diane Swonk says yes, noting, "The Fed will do everything in its power to prevent another recession. And they're the ones with the bazookas." |
| ■ | USA Today, Nov 02, 2009, "Quarterly Economic Survey" – Chief Economist Diane Swonk was one of 46 top economists who participated in USA Today's economic survey, which was conducted Oct. 22-28. The results - Median estimates through Q4 2010 - were published today by USA Today. |
| ■ | Yahoo! News, Nov 02, 2009, "Obama praised on economy, but unemployment remains (AFP)" – Chief Economist Diane Swonk said that one early problem for Obama was that the economy was headed toward an abyss after he was elected in November but before he assumed office in January. "Much of the stimulus plan was not written by the Obama administration, it was written by Congress and it was not as well targeted as it could have been," she said in an AFP story run in Yahoo! News, among other outlets. Swonk noted that Obama's inability to break partisanship in Congress has "continued to hurt the economy," but the quickly enacted stimulus in February helped put the economy on a recovery track. "There's no question that the fact that we are seeing positive growth has a lot to do with the stimulus and the stabilization of the banking system," she concluded. |
| ■ | Chicago Tribune, Oct 30, 2009, "Losing streak ends" – The Chicago Tribune reports that observers say the trend could help such Illinois firms as Peoria-based Caterpillar Inc. and Moline-based Deere & Co., both of which recently announced plans to recall some laid-off workers. Chief Economist Diane Swonk says that if the region's exporting manufacturers see business pick up, "it could be an important offset to the continuing struggles in the auto industry." She adds that locally, the commercial real estate market "is more of an Achilles' heel than in other parts of the country." |
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The Daily Press - Online,
Oct 30, 2009,
"Economy swings into growth mode, but depth of recovery in doubt" –
Diane Swonk, chief economist, says that while retail spending has come back a bit, it remains bargain-oriented. "The high end on Michigan Avenue is still struggling." |
| ■ | CNBC - The Call, Oct 29, 2009, "Beginning of an Actual Economic Recovery?" – Appearing on CNBC's The Call, Chief Economist Diane Swonk comments on whether we're seeing the beginning of an economic recovery. Swonk says, "The question is how sustainable is it and how strong will it be." "It's still a depressing economy, but it ain't a depression and we are now in for a rocky recovery," she predicts. |
| ■ | WTTW-Channel 11 Jim Lehrer NewsHour, Oct 29, 2009, "Economy Shows New Signs of Growth, but Jobs Still Lag" – Chief Economist Diane Swonk comments on the third quarter economic expansion, particularly related to exports: "...all of that is feeding into profits in this region, not a lot of jobs, but, eventually, those profits come right through Chicago's financial services center, which is very important to us here in Chicago." Swonk adds, "And that will eventually create some jobs." |
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Medill Reports Chicago,
Oct 20, 2009,
"September Wholesale Prices Down on Falling Energy Prices" –
"The bottom line here I believe is that there isn’t much inflationary pressure,” comments Deputy Chief Economist Adolfo Laurenti regarding September wholesale prices as quoted in Medill Reports Chicago. "People strongly believe we are headed into an environment where deflation is more of a threat than inflation. There is no heating in the economy.” |
| ■ | First Business, Oct 06, 2009, "ONE YEAR LATER, HAS TARP WORKED?" – On the one-year anniversary of the Troubled Asset Relief Program (TARP), Deputy Chief Economist Adolfo Laurenti comments on its effectiveness in an interview with First Business. "There is still a lot of uncertainty so the jury is still out. Most of the money is likely to be sitting at the Federal Reserve...not really gone through the system yet," says Laurenti. "But at least the condition of the banks' debt will be the good news side of the story." |
| ■ | CNN, Oct 04, 2009, "In the Money" – "My view is that keeping the job you have is paramount," advises Chief Economist Diane Swonk in an interview on CNN's In the Money. "It means...taking the cuts in compensation and staying out there. This is not an easy time and not a time to be demanding," continues Swonk. "I know that's not easy but that would be my biggest emphasis...if you do have a job, you're one of the lucky ones." |
| ■ | Economictimes, Sep 06, 2009, "Did Bernanke Save U.S. from Crisis?" – Quoted in Economictimes regarding Fed Chairman Ben Benanke's role at the height of the economic crisis, Diane Swonk, chief economist, said that the Fed and Bernanke "performed unbelievably well in the height of the crisis." She added, "He reacted so quickly, he was doing things creatively. Once Lehman went there was nowhere to go but down, the question was how far we were going to fall." |
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CNN - The Situation Room,
Sep 03, 2009,
"Joe Biden Talks Up the Economy" –
Appearing on a CNN story about the effectiveness of the President's economic plan, Chief Economist Diane Swonk predicted, "We're talking about higher unemployment, rising unemployment right through the mid part of 2010, and then, maybe, hopefully, being able to bring it down a bit by the end of the year. " |
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Thomson Reuters - Online,
Sep 03, 2009,
"U.S. home prices seen turning the corner" –
"...it would be a prerequisite for a strong recovery, and that's not in the cards right now," comments Deputy Chief Economist Adolfo Laurenti on results of a Reuters' poll in which 29 of 39 economists said a housing price rebound is not needed to end to the economic slide. |
