Top Economists Are 'Cautiously Optimistic' About Economic Outlook, but Expect Market Volatility

NEW YORK, April 2, 2015 /PRNewswire/ -- Jewish Communal Fund (JCF), an independent public charity that facilitates charitable giving for more than 6,000 fund holders through a popular giving vehicle known as a donor advised fund, hosted its third annual Economic Outlook Breakfast on Tuesday at the Harmonie Club. Bloomberg Radio's Carol Massar, co-host of "Taking Stock," moderated the panel, which featured Goldman Sachs' Senior Investment Strategist Abby Joseph Cohen, CFA, as well as Dana Saporta, an economist for Credit Suisse's Investment Banking division, and Steven Wieting, Citi Private Bank's Global Chief Investment Officer.

Six years into the economic recovery, we "are at an unprecedented moment," noted Credit Suisse's Saporta. The panelists spoke about increased volatility in the financial markets and how rising interest rates will likely hurt portfolios but will not be high enough to impede economic growth or dissuade home buyers.

The labor force is on a "trajectory of improvement," Wieting said. Still, "there is a mismatch between the skills people have and the jobs that are available," said Cohen. "This is a structural problem that we are not addressing from a policy perspective." The economy is becoming service and information-based, but "we are not really training people for the jobs being created."

The panelists spoke about how rising interest rates would affect the U.S. government's interest payments on the public debt, which now totals over $18 trillion. They also addressed swings in currency and how the rising dollar could impact the profits of multinational companies depending on where they do business.

The standing-room only crowd included high-net worth wealth managers, attorneys and financial professionals. The Economic Outlook Breakfast is an annual program organized by the JCF Private Client Group for their Advisor Network to provide educational resources and networking opportunities for professionals in law, accounting, wealth management and finance, often with CLE and CPE credit.  Click here to be added to our growing list of best-in-class service providers in financial advisory, legal, tax and other related professions.

About Jewish Communal Fund:

Jewish Communal Fund (JCF), the largest Jewish donor advised fund in the country, currently manages $1.4 billion in charitable assets for 3,100 funds. JCF's donor advised funds make giving easy, flexible and efficient. The Chronicle of Philanthropy designated JCF a "Top 50" Charity in the U.S. on its 2014 Philanthropy 400 list. Learn more about JCF by visiting www.jcfny.org. Visit JCF's Company Page on LinkedIn, like us on Facebook, and follow us on Twitter. To learn more about the JCF Private Client Group, visit jcfny.org/privateclient, where you can download the Private Client Group brochure.

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SOURCE Jewish Communal Fund