ASU's W.P. Carey school honors recession sage - East Valley Tribune: Business

ASU's W.P. Carey school honors recession sage

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Posted: Wednesday, September 28, 2011 6:22 pm

An economist who accurately predicted the recent recession and recovery will deliver his economic forecast for 2012 when he is honored Oct. 20 in New York by ASU’s W.P. Carey School of Business.

Former U.S. Treasury Secretary Lawrence Summers will present Goldman Sachs Chief Economist Jan Hatzius with the prestigious Lawrence R. Klein Award for economic forecasting. Hatzius becomes one of a handful of people to receive the honor twice.

“The challenge for the forecasters was to project the depth of the economy’s contraction and then gauge the strength of the recovery into 2010,” said W.P. Carey research professor of economics Lee McPheters. “The Goldman Sachs analysts, led by Jan Hatzius, were especially accurate on interest rates and tracked the cycle overall better than anybody else.”

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