This event was broadcast live on C-SPAN and CSPAN.org. Click here to watch.
As the saying goes, markets like certainty. Although the election is over, the uncertainty surrounding the impending fiscal cliff, combined with long-term deficit and debt issues, may be affecting the economy—and the Congressional Budget Office estimates actually going over the cliff could push the U.S. into another recession. Business leaders have taken notice, forming coalitions to implore Congress and the White House to work together to avoid what they believe will be detrimental to the U.S. and global economies.
On November 19, Economic Studies at Brookings hosted NASDAQ OMX CEO Robert Greifeld to discuss why he believes the capital markets need a sound federal budget so they can get off the sidelines, instead of waiting for news as to whether Washington can reach a deal.
Brookings Vice Chairman Glenn Hutchins gave introductory remarks and Martin Baily, senior fellow and director of the Initiative on Business and Public Policy at Brookings, served as moderator. Mr. Greifeld also took questions from the audience.