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The Peter G. Peterson Foundation Economic Forum’s series Restoring Our Economy Post-Pandemic launched on June 9 with Foundation CEO Michael Peterson in conversation with Swagel about CBO’s approach in assessing a complex fiscal and economic landscape, including the organization’s analysis of the CARES Act and other legislative responses to the crisis.
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The inaugural series of the Peter G. Peterson Foundation Economic Forum will explore the significant impact and policy implications of the COVID-19 pandemic. As lawmakers enact major programs to address the devastating damage to our health, economy and society, many critical questions remain about the path forward. This Forum series will host conversations that explore lessons learned thus far, ideas for when and how we can safely reopen the economy, and how effective fiscal policy can both aid recovery and prepare us better for the next unforeseen crisis.
Phillip Swagel became the 10th Director of the Congressional Budget Office on June 3, 2019. Previously, he was a professor at the University of Maryland’s School of Public Policy and a visiting scholar at the American Enterprise Institute and the Milken Institute. He has also taught at Northwestern University, the University of Chicago’s Booth School of Business, and Georgetown University. His research has involved financial market reform, international trade policy, and China’s role in the global economy.
From 2006 to 2009, Dr. Swagel was Assistant Secretary for Economic Policy at the Treasury Department, where he was responsible for analysis of a wide range of economic issues, including policies relating to the financial crisis and the Troubled Asset Relief Program. He has also served as chief of staff and senior economist at the Council of Economic Advisers in the White House and as an economist at the Federal Reserve Board and the International Monetary Fund. He earned his Ph.D. in economics from Harvard University and his A.B. in economics from Princeton University.
Michael A. Peterson is the Chairman and Chief Executive Officer of the Peter G. Peterson Foundation, a nonpartisan organization dedicated to addressing America’s fiscal challenges and building a stronger economic future. The Foundation engages in grant-making, partnerships and research to educate citizens and foster solutions to put America on a sustainable fiscal path. Michael sets the Foundation’s policy direction and strategy, shaping its major programs and initiatives.
Michael combines his dedication to public service with extensive private sector experience as an entrepreneur, operator and investor. In 2007, he co-founded Evolve IP, an award-winning telecommunications company named as one of America’s 50 best places to work (Inc. Magazine), best entrepreneurial companies (Entrepreneur Magazine) and fastest growing technology companies (Deloitte Fast 500). Michael also co-founded GPX Enterprises, L.P., which makes direct investments in operating businesses and real estate. Previously, he held a number of corporate finance positions, leading and executing transactions totaling several billion dollars. Michael also currently serves as the CEO of Peterson Management, LLC, which manages the Peterson family investments.
Michael is Chair of the Board of Directors of the Peterson Institute for International Economics, and serves on the boards of the Nuclear Threat Initiative and the Partnership for New York City. He is a member of the Council on Foreign Relations, the Economic Club of New York, and Business Executives for National Security. He has received the Corporate Community Achievement Award from the Northside Center for Child Development and the Visionary Award from the Committee for Economic Education. Additionally, he has established his own foundation, which focuses on a variety of philanthropic areas.
Michael graduated Magna Cum Laude and with Honors from Brown University, where he was awarded the Taubman Prize for his thesis. He received his Master's degree from the London School of Economics. Michael lives in New York with his wife, Tara Peters, and their two children.