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57th Annual ASU/PNC Bank
Economic Forecast Luncheon

The longest-running, most trusted economic forecasting event in the Valley.

When: Tuesday, December 1, 2020 at 11:15 a.m.
Where: Virtual Event via Zoom
Ticket prices: $95/person | $800/group of 10

Sponsored by:

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The Program

The COVID-19 pandemic interrupted the longest expansion on record, and the economy is in a serious recession even as the stock market has recovered from its lows. Can the U.S. and the world economy start growing again? What are the perspectives for the Arizona economy? Join us at this year’s luncheon, where top national and regional experts will present their economic forecasts, and advice on these issues and more.

Mary C. Daly

Mary C. Daly

President and Chief Executive Officer
Federal Reserve Bank of San Francisco

Keynote Address

Mary C. Daly is the President and CEO of the Federal Reserve Bank of San Francisco. As a participant on the Federal Open Market Committee, she helps set American monetary policy that promotes a healthy and stable economy.

Since taking office in October 2018, Daly has committed to making the San Francisco Fed a more community-engaged bank that is transparent and responsive to the people it serves. She works to connect economic principles to real-world concerns and is a sought-after speaker on monetary policy, labor economics, and increasing inclusion and diversity within the economics field.

Daly began her career with the San Francisco Fed in 1996 as an economist specializing in labor market dynamics and economic inequality. She went on to become the Bank’s Executive Vice President and Director of Research. She currently serves on advisory boards for the Center for First-generation Student Success and the Maxwell School of Citizenship and Public Affairs at Syracuse University. She has also served on the advisory boards of the Congressional Budget Office, the Social Security Administration, the Office of Rehabilitation Research and Training, the Institute of Medicine, and the Library of Congress.

Daly earned a bachelor’s degree from the University of Missouri-Kansas City, a master’s degree from the University of Illinois Urbana-Champaign and a Ph.D. from Syracuse University. She also completed a National Institute of Aging post-doctoral fellowship at Northwestern University.

A native of Ballwin, Missouri, Daly now lives in Oakland, California, with her wife Shelly.

Stuart G. Hoffman

Stuart G. Hoffman

Senior Economic Advisor
The PNC Financial Services Group

Outlook for the Business Sector

Stuart G. Hoffman is senior economic advisor for The PNC Financial Services Group. In this role, Hoffman works with PNC clients to provide expert analysis and forecasts for national, regional and global economic and financial trends.

Prior to being named to his new role in April 2017, he served as PNC’s chief economist and was principal spokesperson on all economic issues. Hoffman has been recognized as one of the most accurate economic and interest rate forecasters in the prestigious Wall Street Journal economic survey covering the 1988 to 2016 period.

Hoffman joined PNC in 1980 after a six-year tenure with the Federal Reserve Bank of Atlanta. He became vice president and senior economist for PNC in 1987 and was elected senior vice president and chief economist in 1991.

He has been frequently quoted in The Wall Street Journal, The New York Times, Financial Times and Barron’s. He was a regular guest on CNBC and Bloomberg TV. In addition, he was regularly interviewed by the Associated Press, Reuter’s news wire services and NPR.

Hoffman is past president and lifetime member of the American Bankers Economic Advisory Committee, which meets regularly with the Federal Reserve Board of Governors chaired by Jay Powell. He also serves on the board of directors of The Economic Club of Pittsburgh, the local chapter of National Association for Business Economics (NABE), and VisitPITTSBURGH. Hoffman is a member of the University of Cincinnati Foundation board of trustees.

Hoffman is a 1971 graduate of Pennsylvania State University. He received a master's degree in 1973 and a doctorate degree in economics in 1975, both from the University of Cincinnati, where he was a Charles Phelps Taft Memorial Fellow. In 2004, the University of Cincinnati honored him as a Distinguished Alumnus and in 2011 presented him with The Carl Lindner Award for Outstanding Business Achievement.

Bart Hobijn

Bart Hobijn

Professor of Economics
W. P. Carey School of Business
Arizona State University

Outlook for the Global and National Economy

Bart Hobijn joined the Economics Department at the W. P. Carey School of Business at Arizona State University in the summer of 2015. Mr. Hobijn is an applied macroeconomist, whose special interests are technological progress and economic growth, price measurement, and labor market dynamics. Prior to joining ASU, Mr. Hobijn worked in the Economic Research departments of the Federal Reserve Banks of San Francisco and New York. He has also taught classes at U.C. Berkeley, City University of New York, INSEAD, New York University, and VU University Amsterdam, in the Netherlands.

Hobijn serves as a member of the Bureau of Labor Statistics’ technical advisory committee. He completed his Ph.D. in economics at New York University and his MS in econometrics at Erasmus University Rotterdam, in The Netherlands.

His research has been published in several of the leading academic journals in economics, including the American Economic Review, Quarterly Journal of Economics, and Journal of Monetary Economics. He has more than 60 publications and more than 6000 citations on Google Scholar.

Lee R. McPheters

Lee R. McPheters

Research Professor of Economics &
Director, JPMorgan Chase Economic Outlook Center
W. P. Carey School of Business
Arizona State University

Outlook for the Regional and Metro Economy

Lee McPheters is Research Professor of Economics in the W. P. Carey School of Business at Arizona State University and Director of the school’s JPMorgan Chase Economic Outlook Center. The Center maintains the Western Blue Chip Economic Forecast and Greater Phoenix Economic Forecast websites.

McPheters also oversees the Job Growth USA website that tracks employment for all industries in the U.S. states and metropolitan areas. The website is frequently used by economists, financial analysts, economic development specialists, and, during election season, fact-checking organizations to evaluate claims by candidates regarding job creation statistics and policies.

His writings on the Western region have been quoted in the Wall Street Journal, USA Today, The Economist, Business Week, The New York Times, and Newsweek as well as major metropolitan area newspapers throughout the nation. He has appeared nationally on Good Morning America, Fox News, Marketplace on NPR, and CNN commenting on the economic outlook.

As Director of the Economic Outlook Center since 1987, McPheters has delivered a cumulative total of more than 500 speeches and presentations to various public and private audiences at business and academic conferences in Arizona and across the nation.

McPheters has published numerous articles in books and professional journals on various topics, including immigration, executive compensation, monetary policy, international business cycles, and issues in law and economics. At the federal level, his work has been supported by the United States departments of Justice, Transportation, Agriculture, and the Treasury. In Arizona, he has completed research projects for the Arizona Department of Transportation, Sky Harbor International Airport, Boeing, and many other public and corporate sponsors.

McPheters completed his undergraduate studies at San Francisco State University and received his Ph.D. in economics from Virginia Polytechnic Institute. He has been at ASU since 1976, teaching courses at the undergraduate and graduate level in monetary and regional economics. In addition, has held various administrative positions at ASU including Senior Associate Dean for Graduate Programs in the W. P. Carey School of Business from 1991 – 2008.

Questions? Contact us.


The COVID-19 pandemic has greatly impacted our daily lives and the economy this year. This has caused us great concern for your health and the community, convincing us to make the decision to shift this year’s luncheon to a virtual platform. We are currently working on the logistics for the event, including the platform details, to deliver the best experience for you of our panel of speakers. Those details will be communicated to you as the event date nears. If you have any questions, please do not hesitate to contact us