David Blitzer

Chairman of the Index Committee
S&P Dow Jones Indices

David M. Blitzer is managing director and chairman of the Index Committee with overall responsibility for index security selection, as well as index analysis and management.

Prior to becoming Chairman of the Index Committee, Dr. Blitzer was Standard & Poor’s Chief Economist.  Before joining Standard & Poor's, he was Corporate Economist at The McGraw-Hill Companies, S&P's parent corporation.  Prior to that, he was a Senior Economic Analyst with National Economic Research Associates, Inc. and did consulting work for various government and private sector agencies including the New Jersey Department of Environmental Protection, the National Commission on Materials Policy and Natural Resources Defense Council.

Dr. Blitzer is the author of Outpacing the Pros: Using Indices to Beat Wall Street’s Savviest Money Managers, (McGraw-Hill, 2001) and What’s the Economy Trying to Tell You? Everyone’s Guide to Understanding and Profiting from the Economy, (McGraw-Hill, 1997).  In the year 2000, Dr. Blitzer was named to SmartMoney magazine’s distinguished list of the 30 most influential people in the world of investing, which ranked him seventh, and in the year 1998, Dr. Blitzer was named the nation’s top economist, receiving the Blue Chip Economic Forecasting Award for most accurately predicting the country’s leading economic indicators for four years in a row.  A well-known speaker at investing and indexing conferences, Dr. Blitzer is often quoted in the national business press, including the New York Times, Wall Street Journal, USA Today, Financial Times, and various other financial and industry publications.  He is frequently heard on local and national television and radio.

A graduate of Cornell University with a B.S. in engineering, Dr. Blitzer received his M.A. in economics from the George Washington University and his Ph.D. in economics from Columbia University.

Author Archives: David Blitzer

The FOMC and GDP: Not As Confusing As It Looks

The statement issued by the FOMC, the Fed’s policy making unit, following its meeting on Wednesday sent a clear message that the central bank expects to raise interest rates at its next sit-down in December.  Thursday morning at 8:30 AM the Bureau of Economic Analysis published the advance estimate of third quarter GDP showing a Read more […]

The Fed and the Debt Ceiling

Two distractions creating uncertainty for the treasury market right now are the debt ceiling and who said what at the Fed. Both annoyances should fade away, one in a few weeks, the other possibly not until sometime in the first half of 2016. The debt ceiling law dates back to shortly before the Second World Read more […]

Home Prices Are Rising Faster Than You Think

Prices of existing single family homes, as measured by the S&P/Case-Shiller National Home Price index, are rising is single digit terms.  However, the price changes that matter – the real or inflation adjusted changes – may be higher than many suspect. Backing out inflation, as shown in the chart, gives real increases averaging 6.3% annually Read more […]

Speculating About the Fed’s Timing

Little new data, lots of chatter from Wall Street and no clear signals about what the Fed might do at next week’s FOMC meeting. The announcement, either no change or a rate increase, is expected on Thursday afternoon September 17th around 2 PM Washington DC time. Those looking for some hint of what this might Read more […]

The Fed Puzzle Continues

Among analysts and Fed watchers, no matter what they expected from the Fed, they were all confident that this morning’s August Employment report would reveal the future.  No luck. If anything, the report had something, but not enough, for everyone. The increase in payrolls was 173,000, far below the 220,000 expected; the previous two months Read more […]

Probability of Fed Rate Hike in September Rises

The FOMC released the minutes of its July 28-29 meeting earlier today.  While there was no discussion of raising the Fed funds target at the July meeting, all agreed that economic conditions are improving and that the labor market is getting stronger. The inflation rate is below the Fed’s 2% target and will be watched Read more […]

OK Jobs Report Gives No Hint for the Fed

Anyone hoping that this morning’s employment report would send a clear message to the markets and the Fed about the timing of a rate increase was sorely disappointed.  There is virtually no change from last month, even to the second decimal place on some lines. The charts show the unemployment rate — unchanged — and Read more […]

China and Memories of 1987

China’s actions in recent days to shore up its market are reminiscent of actions taken in the US after the 1987 stock market crash. Changes in monetary policy, support for margin calls and stock buybacks were all tried in 1987.  At the same time, some other steps taken in China currently – restricting short selling and halting Read more […]

Inside the S&P 500®…. Bonds!

The companies in the S&P 500 are often described as leading companies in leading industries.  The S&P 500 is the go-to index for analyzing, tracking and understanding large cap stocks in the US market.  Its history goes back over 50 years to 1957 and its predecessor indices extend back to 1923 and 1926. Only the Read more […]

Inside the S&P 500: Adds, Drops and Tall Tales

Each year about 20 to 25 stocks leave the S&P 500 and are replaced with other stocks that meet the guidelines for index membership.  These changes are usually announced five trading days before the index change. Given the size of the asset pool that tracks the S&P 500 — ETFs, index funds and institutional portfolios Read more […]