SABEW 2010 fall conference kicks off

NY Fed chief William Dudley, left, and Nobel Prize-winning economist Joseph Stiglitz speak at a SABEW pre-conference event at Reuters America headquarters, Sept. 30 in New York.

Get CUNY students’ up-to-the-minute coverage of the 2010 SABEW fall conference at

NEW YORK — Experts Joseph Stiglitz and William Dudley offered diagnoses of the slow-recovering economy in the opening sessions of the fall conference of the Society of American Business Editors and Writers here.

William Dudley, president of the Federal Reserve Bank of New York, shared a cautious optimism that the U.S. economic recovery will eventually speed up as he addressed more than 100 financial writers and editors at the opening session Friday morning at the City University of New York’s Graduate School of Journalism. Click here to read the full text of Dudley’s remarks.

Dudley explored the delicate balance of tools used in effecting monetary policy in a lingering recession. “I’m optimistic there will be growth,” said Dudley. “I’m less optimistic that we’ll be back to normal soon.”

He said his goal is to make monetary policy to be more stimulative.

Stiglitz was less optimistic about substantial recovery when he addressed a pre-conference reception Thursday night at Thomson Reuters. The former Nobel Prize winner and chief economist for the World Bank said more stimulus is needed, and feared that Tea Party forces and critics of President Obama’s economic stimulus program could prompt a dangerous contraction of economic growth. Click here to read the Reynold Center’s coverage of the Stiglitz speech.

SABEW was conducting its first New York conference since 2006. Attendees came from all over the country. The program was organized by Greg David, director of CUNY’s business and economics reporting program; and Marty Steffens, SABEW chair at the University of Missouri.

SABEW, with 3,200 members, is the largest association of business and economic journalists in the world. Sponsors of the two-day event included the Reynolds National Center for Business Journalism, Reuters, Bloomberg, the First Five Years Fund, Liquid Planner, and the National Endowment for Financial Education.

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