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Taming A Wild Economy

Roger W. Ferguson Jr. has answered the call at a time when our nation needs him most. Earlier this year, he agreed to serve on President Barack Obama’s Economic Recovery Advisory Board, the influential body charged with providing recommendations for revitalizing America’s battered economy. Ferguson was enlisted to be part of the 15-member task force charged with simplifying the federal tax code and finding ways to recoup the $300 billion in taxes that go uncollected each year. Ferguson was a sterling choice. A former vice chairman of the Board of Governors of the U.S. Federal Reserve System, he is one of the nation’s leading economists. He is also the president and CEO of TIAA-CREF, one of the world’s largest financial services firms with more than $360 billion in assets. In February, his credentials earned him a coveted spot on the black enterprise list of the 100 Most Powerful Executives in Corporate America. Editorial Director Alan Hughes recently sat down with Ferguson in TIAA-CREF’s New York City headquarters to discuss the turbulence in the financial markets, the uncertain state of the economy, and projections of when things may turn around.

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