I have earned two professional degrees in economics from Columbia and Oxford Universities, and have taught economic theory and finance at Cleveland State University. Work also included assignments as economist at the Federal Retdsserve Bank of Cleveland, senior economist at Stanford Research Institute, International , and chief economist for Jefferies &Co., Inc., where I was also chairman of the compensation and audit committees. While at the Federal Reserve I was also a member of the System Committee on Current Business Analysis. In addition I have been chief economist of The Private Bank of the Peninsula, and chairman of that bank’s audit committee as well as a member of the board of directors.I I have served as vice president of Bank of America in the Word Banking and Cashiers Divisions. I was a senior securities analyst for Shuman Agnew & Co., Inc., and in charge of financial planning for Ferro Corporation, an international chemical company. I am presently a director and treasurer of The Committee for Monetary Research and Education in New York City.
I have long record of accurate forecasts dating back one quarter of a century. In the January 1980 issue of The Money I forecast a major decline in interest rates in the 1980’s, due to lower rates of inflation, which occurred. The day that The Bank of New England failed, I forecast in the San Francisco Chronicle that stock prices would appreciate through the decade of the 1980’s, and they did. dIn January, 2001 I predicted in the Wall Street Journal that there would be an unexpected recession later in the year, which happened.In the past decade my forecasts have twice been the most acc;irate in forecasting economic growth.
PUBLISHED BOOKSThe most recent book was my memoir, “Tales to Tell.”
The serial publication was “The Money Analyst,” which was a monthly report commenting on the future direction of the bond and stock markets.
I am now writing a book titled “The American Empire” – The Financial Structure that will rule for a century.