Today we’ll chat with Carl Tannenbaum, chief economist for Northern Trust. In his role, Carl prepares the bank’s official economic outlook and participates in forecast surveys. He is a member of Northern Trust’s investment policy committee, its capital committee, and its asset/liability management committee. Prior to joining Northern Trust, Carl spent four years leading the Federal Reserve’s risk section. He was deeply involved in the central bank’s response to the 2008 financial crisis. Carl began his career in banking at LaSalle Bank/ABN AMRO, serving for more than 20 years as the organization’s chief economist and head of balance sheet management. Carl holds an MBA and a BA in finance and economics from the University of Chicago.

Background

Bio

Economic Outlook, Inflation, and Tariffs

“The Final Descent,” by Carl Tannenbaum, Ryan James Boyle, and Vaibhav Tandon, Northerntrust.com, July 16, 2024.

“Trust the Process,” by Carl Tannenbaum, Ryan James Boyle, and Vaibhav Tandon, Northerntrust.com, June 13, 2024.

“The Value of Economic Data,” by Carl Tannenbaum, Northerntrust.com, July 19, 2024.

“The Truth About Tariffs,” by Carl Tannenbaum, Northerntrust.com, July 3, 2024.

“A New Round of Tariffs,” by Carl Tannenbaum, Northerntrust.com, May 24, 2024.

“Inflation Has a Perception Problem,” by Carl Tannenbaum, Northerntrust.com, June 21, 2024.

“Aftershocks,” The View From Here With Carl Tannenbaum, Northerntrust.com, March 11, 2024.

The Fed and National Debt

The Fed’s Functions

Federal Reserve Bank of Chicago’s Spotlight on Childcare and the Labor Market

“Debt Matters,” The View From Here With Carl Tannenbaum, Northerntrust.com, Jan. 9, 2024.

Real Estate, Banking, and AI

“Out of Office,” The View From Here With Carl Tannenbaum, Northerntrust.com, April 1, 2024.

“Banking: Back in the News,” by Carl Tannenbaum, Northerntrust.com, Feb. 16, 2024.

“Shedding Light on Private Credit,” by Carl Tannenbaum, Northerntrust.com, May 17, 2024.

“Empowering AI,” The View From Here With Carl Tannenbaum, Northerntrust.com, July 24, 2024.

“Automation and Anxiety,” by Carl Tannenbaum, Northerntrust.com, July 12, 2024.

“Augmented Intelligence,” The View From Here With Carl Tannenbaum, Northerntrust.com, June 27, 2023.

Other

“Last Mile: What It Means in Reaching Customers,” by Adam Hayes, Investopedia.com, Sept. 11, 2023.

Committee for a Responsible Federal Budget