On October 2, in Sharpless Auditorium, David Wessel and Barry Zubrow, both Class of ’75, discussed the future of America’s economic system and the potential aftermath of the upcoming presidential election. Ryan Fackler ’11, a senior research assistant at the Board of Governors of the Federal Reserve in Washington, D.C., moderated the discussion.
Mr. Wessel, an economics editor for the Wall Street Journal and a well-known author whose book about the federal budget, Red Ink, was recently released, spoke of the public perception of debt, financial services and health care, as well as the “fiscal cliff” that looms ahead as we approach a critical decision about how the financial system can and should be run in this country. Mr. Zubrow, the head of Corporate and Regulatory Affairs and the executive vice president of JPMorgan Chase, examined the lack of faith the American people have in the government’s ability to function in the future, and how this may create desperate challenges for the next president. Mr. Zubrow also stressed the benefits of the United States banking system, and stressed that consumers mustn’t get too frightened of the future, or this too could lead to a collapse. Both men spoke eloquently and frankly about what the future could hold, no matter which candidate wins the presidential election.