Nicholas Sargen talks about the Republican proposal for corporate and personal tax cuts which is estimated to add $1.5 trillion to the US budget deficit over the next ten years. Sargen argues that case for personal tax cuts to boost the economy is less compelling, especially as the unemployment rate nears 4%.
Nicholas Sargen is an international economist turned global money manager. He has been involved in international financial markets since the early 1970s when he began his career at the U.S. Treasury and the Federal Reserve Bank of San Francisco. He subsequently worked on Wall Street for 25 years holding senior positions with Morgan Guaranty Trust (VP International Economics Department), Salomon Brothers Inc. (Director of Bond Market Research), Prudential Insurance (CIO for Global Fixed Income Advisors) and J.P. Morgan Private Bank (Chief Investment Strategist). In 2003 he became chief investment officer for the Western & Southern Financial Group and its affiliate, Fort Washington Investment Advisors Inc., where he now serves as chief economist.
Sargen has written extensively on international financial markets, and he recently authored a book, Global Shocks: An Investment Guide for Turbulent Markets. He appeared frequently on business television programs throughout his career on Wall Street and was a regular panelist on Louis Rukeyser’s Wall Street Week. He was born and raised in the San Francisco Bay Area and received a B.A. in Economics from the University of California, Berkeley, and an M.A. and Ph.D. in Economics from Stanford University. He is also an adjunct professor at the University of Virginia’s Darden School of Business, and he has recently relocated to Keswick, Virginia.
The event took place at the Wednesday November 8, 2017 meeting of the Senior Statesmen of Virginia. The meeting was held at the Senior Center in Charlottesville. Following the presentation, questions were taken from the audience. SSV Board Vice President Rich DeMong moderated the forum.