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Macroeconomic and Investing Outlook for 2023 and Beyond
Douglas Duncan, Fannie Mae
Martin Fridson, Lehmann Livian Fridson Advisors

December 13, 2022
Tuesday 06:00 PM        Add to Calendar
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Join Washington Association of Money Managers on
Tuesday, December 13th for a panel discussion


"Macroeconomic and Investing Outlook for 2023 and Beyond"



Location:
National Press Club, the Zenger Room

Time:
Reception will begin at 6:00 PM EDT
Panel discussion will begin at 6:30 PM EDT

COVID-19 Safety Guidelines: We require all registrants to be vaccinated against COVID-19 prior to attending WAMM events. For the National Press Club policy on COVID requirements, please see https://www.press.org/safetyfirst for more information.

Global growth slowed through 2022 on the back of a diminishing reopening boost, monetary tightening, China’s zero-Covid policies, and the Russia-Ukraine war. Expectations for global growth in 2023 are in the low single digits, as US resilience contrasts with a European recession and a bumpy reopening in China. Next year is likely to see less inflation and the end of rate hikes on slowing demand, price discounts due to elevated inventories and declining housing prices, among other factors. After a challenging and volatile year in financial markets in 2022, will the market forecast look brighter for the upcoming year? With the greater economic and market volatility here to stay for the foreseeable future, navigating markets in 2023 will require more frequent portfolio changes and granular views that go beyond broad asset classes.

Join us to get an early start on next year’s economic and market outlook that will cover everything from inflation expectations, housing market, corporate balance sheets, recession forecasts, and more. We are fortunate to have an all-star panel of seasoned industry experts to walk us through the economic and investing outlook for 2023 and beyond. Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Mr. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry. Martin Fridson is Chief Investment Officer at Lehmann Livian Fridson Advisors. At brokerage firms including Salomon Brothers, Morgan Stanley, and Merrill Lynch, he became known for his innovative work in credit analysis and investment strategy. For nine consecutive years he was ranked number one in high yield strategy in the Institutional Investor All America Research Survey.

Please note that the Chatham House Rule applies – neither the comments of the speaker nor those of other participants are for attribution.

Please register below by 6:00 PM ET on Tuesday, December 13, 2022. The event is $35 for WAMM members, $55 for non-members, $20 for student members, and $25 for student non-members. Please try to register early, as the space is limited!


Douglas Duncan
Senior Vice President and Chief Economist
Fannie Mae

Douglas G. Duncan is Senior Vice President and Chief Economist at Fannie Mae where he is responsible for forecasts and analyses of the economy and the housing and mortgage markets. Duncan also oversees strategic research regarding the potential impact of external factors on the housing industry.

Under his leadership, Fannie Mae’s Economic & Strategic Research Group (ESR) has won multiple awards. Most recently, he and his team were awarded the 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy in the 2018-2021 period. In both 2015 and 2016, ESR was awarded the NABE Outlook Award, presented annually for the most accurate GDP and Treasury note yield forecasts – the first recipient in the award's history to capture the honor two years in a row. In addition, Pulsenomics awarded ESR for best home price forecast.

Named one of Bloomberg/BusinessWeek's 50 Most Powerful People in Real Estate, Duncan is Fannie Mae's source for information and analyses on demographics and the external business and economic environment; the implications of changes in economic activity on the company's strategy and execution; and for forecasting overall housing, economic, and mortgage market activity.

Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes work on the Financial Institutions Project at the U.S. Department of Agriculture and service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives. Previously, Duncan was a Board member of the National Association of Business Economics and a Board member and Chairman of Strategies to Elevate People (STEP).

Duncan is a Hoyt Professional Fellow at the Homer Hoyt Institute. He is a member of Tyrus R. Timm Honor Registry from the Department of Agricultural Economics Texas A&M University. He was chosen as the North Dakota State University College of Agriculture Alumni of the Year in 2018. He was also elected as a Trustee of North Dakota State University in 2022. Duncan serves on the board of directors for Serviam Care Network.

Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.

Martin Fridson
Chief Investment Officer
Lehmann Livian Fridson Advisors, LLC

Martin Fridson is “perhaps the most well-known figure in the high yield world,” according to Investment Dealers’ Digest. At brokerage firms including Salomon Brothers, Morgan Stanley, and Merrill Lynch, he became known for his innovative work in credit analysis and investment strategy. For nine consecutive years he was ranked number one in high yield strategy in the Institutional Investor All America Research Survey.

Fridson received his B.A. cum laude in history from Harvard College and his M.B.A. from Harvard Business School. He has served as president of the Fixed Income Analysts Society, governor of the CFA Institute, director of the New York Society of Security Analysts, and consultant to the Federal Reserve Board of Governors.

The Financial Management Association International named Fridson the Financial Executive of the Year in 2002. In 2000, he became the youngest person inducted up to that time in the Fixed Income Analysts Society Hall of Fame. A study based on 16 core journals ranked Fridson among the ten most widely published authors in finance in the period 1990-2001. In 2013 Fridson served as Special Assistant to the Director for Deferred Compensation, Office of Management and the Budget, The City of New York. The CFA Society New York, presented Fridson with its Ben Graham Award in 2017.

In 2000, The Green Magazine called Fridson’s Financial Statement Analysis “one of the most useful investment books ever.” The Boston Globe said his 2006 book, Unwarranted Intrusions: The Case Against Government Intervention in the Marketplace, should be short-listed for best business book of the decade.

Fridson’s commentary on economics and financial markets can be found on forbes.com



Location:
The National Press Club
529 14th Street NW
13th Floor
Washington, DC