Committee for a Responsible Federal Budget

New Members in the Announcement Effect Club

Feb 17, 2010 | Economics

During yesterday's Avoiding a Government Debt Crisis event, hosted by the Peterson-Pew Commission on Budget Reform, speakers Thomas Hoenig, Richard Berner, and Clive Crook joined the Announcement Effect Club.

In the keynote speech of the event, Thomas Hoenig, President of the Federal Reserve Bank of Kansas City, stated:

“Outlining a credible course for managing our debt for the future will accelerate the restoration of confidence in our economy and contribute importantly to sustainable capital investment and job growth.”

Yep, he's in the club.

Also joining was Richard Berner, Co-Head of Global Economics and Chief U.S. Economist for Morgan Stanley, who proclaimed he was a "card carrying member" of the Announcement Effect Club.

Clive Crook also argued the following, earning him entrance into the club:

"In my view, there is a linkage between short-term stimulus and long-term consolidation, both in the politics and the economics. It seems to me that a credible commitment to long-term fiscal consolidation...would actually assist on the short-term stimulus front."

We're glad to welcome the new members (click here for a full list of the club).