David Blitzer

Chairman of the Index Committee
S&P Dow Jones Indices
Biography

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

Unnaturally Negative Interest Rates

Negative interest rates – you pay for the privilege of keeping your money in the bank – are current monetary policy in Japan and some European countries.  Negative interest rates pose questions: Are they here? Why would anyone pay the bank to keep money?  Do they make economic sense? Why would a central bank set Read more […]

Expect more starting and stopping at the Fed on Interest rates.

Given the FOMC minutes released yesterday we expect to see two rate increases in 2016. The next move is likely to be in June, not at the April 27th meeting. Some analysts blame disagreements within the Fed for what they see as inconsistent and changing policy.  While it is difficult to anticipate short term market Read more […]

Can House Prices Keep Rising?

Prices of existing homes rose 5.3% in the year ended December 2015, more than twice the rate of inflation.   However, the pace of price increases varies across the country with the strongest gains in the west and the weakest in the northeast, as shown by the chart.  Sales of both new and existing homes Read more […]

Schisms

The world seems to be awash with schisms these days.  There are always great divides in politics, but this year they seem greater than usual.  However, the schisms and splits in the financial world matter more for now: at the Fed, in differing growth rates among the US, Europe and China, and between stocks and Read more […]

What the Beige Book Hints About the Fed

The latest copy of the Beige Book, the Federal Reserve’s survey of the economy, was released today in preparation for the next FOMC meeting on March 15th-16th.  The picture it paints of the economy is far better than what one might assume from the stock market’s recent gyrations – but probably not good enough to Read more […]

Economy Looking Up

Amidst continuing anxiety over financial markets, the U.S. economy turned in some good numbers last week. Fourth quarter GDP was revised upward to 1% real growth from 0.7% with consumer spending up 2.0% at seasonally adjusted real annual rates.  Surveys of forecasters had expected growth to be scaled down to 0.4%. Final sales — GDP Read more […]

Recession Rumors

One sign that people are worried about a recession is getting questions about one on days the market rises.  There seem to have been more down days than up days since the start of the year and the recession question is being asked more on all days. The current recovery is weaker than other recent rebounds. Read more […]

Better Than the Headline

The smaller than expected rise in payrolls in this morning’s January Employment Report disappointed people, but the details were far better than the 151,000 gain in payrolls.  Even though to total of new jobs was about 40,000 lower than the consensus forecast, some details in the number were surprisingly good: manufacturing employment jumped by 29,000. Read more […]

“Round Up the Usual Suspects”

Movie fans may remember this as one of the closing lines in Casablanca. Though less artistic, market watchers have their own suspects for the stock markets turmoil of the last few weeks: Corporate Earnings are always a good place to start and the latest projections point to 2015 EPS for the S&P 500 being down Read more […]

Recession Angst

Stock market turmoil is generating fears and predictions of a 2016 recession.  The S&P 500 and the Dow dropped  more than 10% from recent record highs to correction levels, but none of this guarantees a recession.  In fact, the stock market is notorious for predicting recessions –and many other things – that never happened.  The Read more […]