***This event will be followed by a Members Meeting (see below)***
Principal Economist, Group Manager
Industrial Output Section, Division of Research and Statistics
Board of Governors of the Federal Reserve System
"Are Millennials Different?"
The economic well-being of the millennial generation, which entered its working-age years around the time of the 2007-09 recession, has received considerable attention from economists and the popular press. This research compares the socioeconomic and demographic characteristics of millennials with those of earlier generations and compares their income, saving, and consumption expenditures. Relative to members of earlier generations, millennials are more racially diverse, more educated, and more likely to have deferred marriage; these comparisons are continuations of longer-run trends in the population. Millennials are less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth. For debt, millennials hold levels similar to those of Generation X and more than those of the baby boomers. Conditional on their age and other factors, millennials do not appear to have preferences for consumption that differ significantly from those of earlier generations.
Christopher Kurz is Principal Economist and Group Manager in the Industrial Output section of the Division of Research and Statistics at the Federal Reserve Board. His responsibilities at the Board of Governors range from forecasting industrial production and motor vehicle sales to coordinating the staff forecast of GDP. Christopher’s research interests are similarly broad and cover international trade, international finance, and economic history. Recent research projects of Christopher’s have employed microdata to quantify the effects of international trade on employment volatility at the firm level and back tested systemic risk measures using historical banking data. More recently, Chris has been working on the Federal Reserve Board’s Expanded Measurement Agenda (EMA). The EMA is an attempt to identify novel data sources that can be used to develop timely and accurate measures of economic activity that are relevant to the formation of monetary policy. Read more here.
Note: Registration is open through Wednesday, 3-6-19, but walk-ins are welcome.
SPECIAL NOTICE! We will conduct a short Members Meeting following this luncheon from approximately 1:30 - 2:00 pm. Cliff Waldman (firstname.lastname@example.org), 2019 NEC President, will address Members' questions and input concerning the Club's operations. He will also discuss any Club business at that time. Luncheon attendance is not required to attend the Members meeting. Press: This event is off the record and closed to press.
Credit Card payment is non refundable but you may substitute someone in your place for attendance.