Brian Wesbury
Encyclopedia
Brian S. Wesbury is an American
economist
and economic forecaster. He is noted as an accomplished macro economist. He is a monthly contributor for The American Spectator magazine, and serves as the magazine's economics editor. He quoted ofte in national and international news sources, and is on CNBC
, Fox Business News, Fox News, and Bloomberg TV frequently. He is a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago
, and for five years served as an adjunct professor of economics at Wheaton College
in Wheaton, Illinois
.
, North America
.
In 1981, Wesbury received his BA in Economics
from the University of Montana.
Wesbury also attended Northwestern University
for graduate level business studies, and received his MBA from Northwestern University
's Kellogg Graduate School of Management in 1989.
.
Wesbury served as Vice President and Economist for the Chicago Corporation from 1990 to 1992 and then as Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson, a Chicago Investment Bank from 1992 until 2005, except for 2 years while he served on Capitol Hill.
In 1995 and 1996, Wesbury served as Chief Economist for the Joint Economic Committee of the U.S. Congress.
In October 1999, McGraw-Hill published Wesbury's first book, "The New Era of Wealth".
In 2004, Wesbury was honored in 2004 by USA Today
as one of the top 10 economic forecasters in the United States, and ranked by The Wall Street Journal as the nation's #1 U.S. economic forecaster in 2001.
Since 2006 Wesbury has been the Chief Economist at First Trust Advisors L.P, a financial services firm headquartered in Wheaton, Illinois.
In October 2009, Wiley & Sons published Wesbury's second book "It's Not as Bad as You Think"
, low taxes, open markets and a supportive societal and governmental infrastructure, it would be primed for prosperity. Brian Wesbury's optimism has been recorded through countless interviews and publishings, as in February 2008, he stated in Human Events
the country is not in a recession and people should be buying stocks because "the market basically today is priced for almost the end of the world." Obviously he was too early and after the article was published, the Dow dropped from 13,000 to the low of 6600 in March 2009. This gross inaccuracy hints that his ability to predict the economy may be due to chance.
Wesbury is not the ever optimist that has been portrayed. His work in not only calling the 2001-2002 recession but also accurately predicting how deep and how long the recession would last earned him acclaim from the Wall Street Journal and USA Today. It is noted that predicting a recession is much easier than forecasting the breadth and length, but to Wesbury's credit he was able to do just that.
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and economic forecaster. He is noted as an accomplished macro economist. He is a monthly contributor for The American Spectator magazine, and serves as the magazine's economics editor. He quoted ofte in national and international news sources, and is on CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, Fox Business News, Fox News, and Bloomberg TV frequently. He is a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago
Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank....
, and for five years served as an adjunct professor of economics at Wheaton College
Wheaton College (Illinois)
Wheaton College is a private, evangelical Protestant liberal arts college in Wheaton, Illinois, a suburb west of Chicago in the United States...
in Wheaton, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
.
Early life and education
Wesbury was born in Ann Arbor, Michigan United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
.
In 1981, Wesbury received his BA in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Montana.
Wesbury also attended Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
for graduate level business studies, and received his MBA from Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
's Kellogg Graduate School of Management in 1989.
Professional career
In 1982, Wesbury began his career at the Harris Bank in ChicagoChicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
.
Wesbury served as Vice President and Economist for the Chicago Corporation from 1990 to 1992 and then as Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson, a Chicago Investment Bank from 1992 until 2005, except for 2 years while he served on Capitol Hill.
In 1995 and 1996, Wesbury served as Chief Economist for the Joint Economic Committee of the U.S. Congress.
In October 1999, McGraw-Hill published Wesbury's first book, "The New Era of Wealth".
In 2004, Wesbury was honored in 2004 by USA Today
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
as one of the top 10 economic forecasters in the United States, and ranked by The Wall Street Journal as the nation's #1 U.S. economic forecaster in 2001.
Since 2006 Wesbury has been the Chief Economist at First Trust Advisors L.P, a financial services firm headquartered in Wheaton, Illinois.
In October 2009, Wiley & Sons published Wesbury's second book "It's Not as Bad as You Think"
Wesbury the Optimist
Throughout his career as an economist, Wesbury held fast to his beliefs that the economy was not always doing as poorly as the critics believed. Through empirical studies on what moves the global marketplace, Wesbury held fast to his contrarian beliefs that if an economy were given the three key ingredients of economic freedomEconomic freedom
Economic freedom is a term used in economic and policy debates. As with freedom generally, there are various definitions, but no universally accepted concept of economic freedom...
, low taxes, open markets and a supportive societal and governmental infrastructure, it would be primed for prosperity. Brian Wesbury's optimism has been recorded through countless interviews and publishings, as in February 2008, he stated in Human Events
Human Events
Human Events is a weekly American conservative magazine. It takes its name from the first sentence of the United States Declaration of Independence...
the country is not in a recession and people should be buying stocks because "the market basically today is priced for almost the end of the world." Obviously he was too early and after the article was published, the Dow dropped from 13,000 to the low of 6600 in March 2009. This gross inaccuracy hints that his ability to predict the economy may be due to chance.
Wesbury is not the ever optimist that has been portrayed. His work in not only calling the 2001-2002 recession but also accurately predicting how deep and how long the recession would last earned him acclaim from the Wall Street Journal and USA Today. It is noted that predicting a recession is much easier than forecasting the breadth and length, but to Wesbury's credit he was able to do just that.
Chief Economist of the Joint Economic Committee
Beginning in January 1995, this Committee provided information for members of the US Congress regarding policy decision-making and economic growth objectives. Here, Wesbury directed and advised committee members and members of congress on policy matters and relating to the United States and other nations.Wesbury after Government
After a 13 year stay as Chief Economist for Chicago investment bank Griffin, Kubik, Stephens, & Thompson, and time away from the private sector to serve in government, Wesbury is currently Chief Economist for First Trust Portfolios, a financial services firm located in Wheaton, IllinoisWheaton, Illinois
Wheaton is an affluent community located in DuPage County, Illinois, approximately west of Chicago and Lake Michigan. Wheaton is the county seat of DuPage County...
.