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Tuesday, September 28

Are Central Banks Playing a Game of Chicken?

UHY Consulting presents Chief Marketing Strategist Stephen Colavito, who will explore ways central banks have added liquidity into the system to help global economies survive after the COVID pandemic. By influencing the global monetary system, are they playing a game of chicken?

HOW ARE GLOBAL ECONOMIES BEING SUPPORTED AND WHAT ARE SOME OF THE EFFECTS OF THAT STIMULUS?

HOW ARE GLOBAL ECONOMIES BEING SUPPORTED AND WHAT ARE SOME OF THE EFFECTS OF THAT STIMULUS?

Everyone knows about the famous scene in the 1955 movie, Rebel without a Cause, where the main character James Dean is “playing chicken” with his rival. In the movie, the two guys must drive their cars straight towards a cliff, and whoever jumps out of their car first is deemed “chicken”. In this scene, the movie is really employing game theory with the two options for these characters being jump or stay, which will result in either tie, win, lose or die. Unfortunately, the young man playing chicken with James Dean dies. What if we apply this same game theory to how central banks influence the global monetary system? Are they, too, playing a game of chicken?

First, is inflation transitory, or is that just taunting economists and consumers? Second, what does an additional 3.5 trillion dollars of infrastructure spending proposed by Congress mean for the economy? Third, what is the consensus outlook for growth in 2022?  Lastly, does the Fed swerve and raise interest rates to slow inflation, or do they continue to taunt to keep the cost of capital low for an ever-bloated government balance sheet? 

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Opening Remarks

Frank Fenello, National Managing Director | UHY Consulting

Frank Fenello is a member of the firm’s National Management Committee and leads the National UHY Consulting practice providing business and strategy, organization and operations, finance and accounting, technology innovation, and cybersecurity and privacy capabilities to clients across the Fortune 1000 and dynamic middle market. He has more than twenty years of experience in management and professional consulting in the finance, telecom, insurance and related professional services industries. As a certified Six Sigma Black Belt, Frank uses his in-depth experience and knowledge to identify process improvements and cost efficiencies, and provide successful business strategies. He specializes in leading finance transformation efforts, including shared services, accounts payable, and month-end and year-end close processes.

Speaker

Stephen Colavito, Chief Market Strategist | Lakeview Capital Partners, LLC

Stephen is responsible for developing global investment insights and working with Lakeview’s advisors to create actionable advice. Stephen is also responsible for representing Lakeview’s market views across all channels as a speaker and through the company’s research.

He has 25 years of experience in the financial services industry. Before joining Lakeview, Stephen was a Managing Director and Portfolio Manager for Asset Preservation Advisors. His leadership role was to help the portfolio management team with various investment strategies and create content for the firm on various investment issues.

Stephen holds his Bachelor of Science Degree from Florida International University in Finance. He worked in investment banking and headed corporate cash at Bear Stearns, Co., Deutsche Bank, and Barclays. After his time at the wirehouses, he was a short-duration portfolio manager before becoming the CIO/CMS at Lakeview Capital Partners.

Stephen has been seen on business shows, including Arise XChange, Bloomberg News, and Fox Business. He has been a guest speaker at Texas A&M’s Mays School of Business and is a member of the Association of Financial Professionals (AFP). Stephen is an active member of his church and the father of three daughters.

He holds his series 65 and is a Registered Investment Advisor.

Recommended CPE Credit: 1
Recommended Field of Study: Specialized Knowledge
Prerequisites: None
Program Knowledge Level: Basic
Advanced Preparation: None

*To receive CPE credit attendees must attend the session via a computer or mobile device, dial in attendees will not qualify. All three (3) attendance verification polling questions must be answered, the survey at the close of the session must be completed, and your time in the session must be a minimum of 50 minutes in order to receive 1.0 CPE credits.

NASBA Sponsor Statement

UHY Advisors, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. National Registry of CPE Sponsors Number 109122.

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