Global Economic Outlook Archive

  • April 2015

    Washington, D.C., is beautiful in the springtime. The cherry blossoms are out, and the humidity has yet to set in. The air is filled with promise.
  • January 2015

    Re-entry to the workplace after the holiday season isn’t exactly like a satellite descending from earth’s orbit. But both involve returning to normal temperatures after a period of chilling out, and both can therefore be very disorienting.
  • October 2014

    Our latest discussion around the global outlook occurred during a period of significant market volatility. Nonetheless, we focused our discussions on fundamental trends that are driving economic achievement.
  • July 2014

    The U.S. economy stumbled in the first quarter, largely due to bad weather, and inventory adjustment and weak exports also played a role.
  • April 2014

    The fundamentals of the U.S. economy suggest a strong performance in the rest of the year after a weather-related setback in the first quarter.
  • January 2014

    Government spending is expected to add to U.S. GDP growth for the first time since 2010.
  • July 2013

    Growth is expected to improve in the United States and the United Kingdom while disappointing in Europe.
Carl R. Tannenbaum

Carl R. Tannenbaum

Executive Vice President and Chief Economist
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Carl R. Tannenbaum

Carl R. Tannenbaum

Executive Vice President and Chief Economist
Carl Tannenbaum is the Chief Economist for The Northern Trust.  In this role, Mr. Tannenbaum briefs clients and colleagues on the economy and business conditions, prepares the bank’s official economic outlook and participates in forecast surveys.  He is a member of the bank’s investment policy committee, its capital committee, and its asset/liability management committee.

Mr. Tannenbaum publishes weekly commentaries and is frequently interviewed by media outlets such as The Wall Street Journal, Bloomberg, and Reuters.

Prior to joining Northern Trust, Mr. Tannenbaum spent four years at the Federal Reserve, where he led the risk section.  He was deeply involved in the central bank’s response to the 2008 financial crisis, helped to create and conduct its stress testing program, and advised senior Federal Reserve leaders on developments in banking and the financial markets.

Mr. Tannenbaum began his career in banking at LaSalle Bank/ABN AMRO, a global banking organization with $1 trillion in total assets.  He served for more than 20 years there as the organization’s Chief Economist and Head of Balance Sheet Management.

Mr. Tannenbaum is a member and past Chairman of the American Bankers Association’s Economic Advisory Committee, the National Association for Business Economics, the Conference of Business Economists, and the North American Asset/Liability Management Association.

Mr. Tannenbaum also serves on the Board of Working in the Schools (WITS), a literacy organization that supports the Chicago Public Schools.

Mr. Tannenbaum holds an M.B.A. and a B.A. in finance and economics from the University of Chicago.
The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.