Brian S. Wesbury (born September 8, 1958) is an American economist focusing on macroeconomics and economic forecasting. He is the economics editor and a monthly contributor for The American Spectator, a conservative political magazine, in addition to appearing on television stations such as CNBC, Fox Business, Fox News, and Bloomberg TV frequently. He is a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago, and for five years served as an adjunct professor of economics at Wheaton College in Wheaton, Illinois.
Early life and education
In 1982, Wesbury began his career at the Harris Bank in Chicago.
Wesbury served as Vice President and Economist for the Chicago Corporation from 1990 to 1992 and then as Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson, a Chicago Investment Bank from 1992 until 2005, except for 2 years while he served on Capitol Hill.
In October 1999, McGraw-Hill published Wesbury's first book, "The New Era of Wealth".
In 2004, Wesbury was honored by USA Today as one of the top 10 economic forecasters in the United States, and ranked by The Wall Street Journal as the nation's #1 U.S. economic forecaster in 2001.
Since 2006 Wesbury has been the Chief Economist at First Trust Advisors L.P, a financial services firm headquartered in Wheaton, Illinois.
In October 2009, Wiley & Sons published Wesbury's second book "It's Not as Bad as You Think"
Wesbury the Optimist
Throughout his career as an economist, Wesbury held fast to his beliefs that the economy was not always doing as poorly as the critics believed. Through empirical studies on what moves the global marketplace, Wesbury held fast to his contrarian beliefs that if an economy were given the three key ingredients of economic freedom - low taxes, open markets and a supportive societal and governmental infrastructure, it would be primed for prosperity. Brian Wesbury's optimism has been recorded through countless interviews and publishings, as in February 2008, he stated in Human Events the country is not in a recession and people should be buying stocks because "the market basically today is priced for almost the end of the world." Obviously he was too early and after the article was published, the Dow dropped from 13,000 to the low of 6600 in March 2009.
Wesbury is not the ever optimist that has been portrayed. His work in not only calling the 2001-2002 recession but also accurately predicting how deep and how long the recession would last earned him acclaim from the Wall Street Journal and USA Today. It is noted that predicting a recession is much easier than forecasting the breadth and length, but to Wesbury's credit he was able to do just that.
Chief Economist of the Joint Economic Committee
Beginning in January 1995, this Committee provided information for members of the US Congress regarding policy decision-making and economic growth objectives. Here, Wesbury directed and advised committee members and members of congress on policy matters and relating to the United States and other nations.
Wesbury after Government
After a 13 year stay as Chief Economist for Chicago investment bank Griffin, Kubik, Stephens, & Thompson, and time away from the private sector to serve in government, Wesbury is currently Chief Economist for First Trust Portfolios, a financial services firm located in Wheaton, Illinois.
Wesbury his wife, Brenda, and two boys live in Illinois.
- "Search for wesbury". Fox News.
- "wesbury - Bloomberg Search". Bloomberg.
- "Top 10 economic forecasters". USA Today. March 29, 2004.
|Wikimedia Commons has media related to Brian Wesbury.|
- Brian Wesbury (2000). The New Era of Wealth. McGraw Hill. ISBN 0-07-135180-9.
- Brian Wesbury (2009). It's Not as Bad as You Think. Wiley. ISBN 0-470-23833-X.
- "Brian Wesbury Sees No Recession Ahead", Human Events Interview by Bill Steigerwald, http://www.humanevents.com/article.php?id=25189
- "The Budget and the Economy: Brian S. Wesbury Testimony before the Senate Committee on the Budget." Full Text: http://budget.senate.gov/democratic/testimony/2002/wesbury_hrng012902.pdf
- "Wesbury "Best Economic Forecaster" Full text: https://www.kellogg.northwestern.edu/kwo/spr04/inbrief/wesbury.htm
- "Fair but Unbalanced" Wall Street Journal full text: http://www.opinionjournal.com/extra/?id=110010446
- "Pouting Pundits of Pessisism" Wall Street Journal full text: http://www.opinionjournal.com/editorial/feature.html?id=110007622
- "Nationally Renowned U.S. Economic Forecaster, Joins The Heartland Institute as Senior Fellow" The Heartland Institute. Press Release http://www.heartland.org/Article.cfm?artId=17250
- "Wesbury Led a Group Of Bears Who Called The Recession of 2001" Wall Street Journal full text: http://www.camillieconomics.com/docs/WSJ2002.html
- "Wonderful Wesbury" Rich Karlgaard Forbes Magazine 2004 Full Text: http://www.forbes.com/global/2004/0112/135.html