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FDIC 2005 Economic Outlook
The U.S. Consumer: Hero or Has-Been?


Carl E. Steidtmann

Chief Economist for Deloitte Research

Carl Steidtmann is a nationally recognized expert on economic forecasting of retail sales activity, consumer, technology and general economic trends. Based in New York, Dr. Steidtmann works with individual clients in assessing the impact of economic, demographic, political and technological changes on their business strategies. He has also testified on numerous occasions as an expert witness on retailing related issues in both state and federal courts.

His research has been quoted in The Wall Street Journal, Women's Wear Daily, USA Today and The New York Times, among other publications. Dr. Steidtmann has appeared on the MacNeil-Lehrer News Hour, CNBC, and the Nightly Business Report as an expert on consumer issues.

Prior to joining Deloitte Research Dr. Steidtmann was with PricewaterhouseCoopers where he authored or co-authored over 400 publications on economics, demographics, competition and socio-technological trends as they relate to business. Dr. Steidtmann was Vice President with Nakagama & Wallace, a Wall Street firm that consults on world economic trends, exchange rates and equity markets.

He has also served as senior advisor and economist for the American Productivity Center, where he acted as the technical adviser to the White House Conference on Productivity. He was an economics instructor at the University of Colorado, and worked with Mountain Bell as an internal systems consultant and with IBM as a systems engineer.

Dr. Steidtmann is a frequent conference and after dinner speaker on marketing, technology, consumer trends and the general economic outlook. He has addressed a hundreds of groups on economics, technology and productivity, including the National Retail Federation, the Food Marketing Institute, and the International Mass Retail Association in addition to individual companies.

An award-winning instructor and systems analyst, Dr. Steidtmann was selected one of the 25 most influential consultants for 2003 by Consulting Magazine for his work in consumer spending forecasting.

Dr. Steidtmann earned his Ph.D., master's and bachelor's degrees from the University of Colorado, majoring in economics, statistics, and history, respectively.

Allen C. Grommet

Senior Economist for Cambridge Consumer Credit Index

Allen Grommet is the Senior Economist for CAMBRIDGE CONSUMER CREDIT INDEX. With vast experience in economics, he writes the monthly in-depth economic analysis for the Index. His background includes: Financial Management, Financial Analysis, Risk Management, Forecasts and Budgets, Federal Reserve policy, and Macro & Micro forecasting. Mr. Grommet has worked on projects including a consumer confidence survey for ABC News and MONEY Magazine widely used by traders and forecasters in the financial markets. He has appeared on Bloomberg and CNNfn TV, numerous radio stations and in the print media in BusinessWeek, Reuters, Associated Press and others.

Mr. Grommet has held positions as Chief Economist for the Coffee, Sugar and Cocoa Exchange, Inc., Senior VP of Merrill Lynch Economics, VP at Equitable Life Assurance Society of the U.S., Assistant VP and Money Market Economist for Chemical Bank, Capital Markets Group, and Chief Economist for the U.S. House Budget Committee.

Leonard E. Burman

Co-Director of the Urban-Brookings Tax Policy Center
Senior Fellow at the Urban Institute
Visiting Professor at Georgetown University

Leonard Burman is Co-Director of the Tax Policy Center, Senior Fellow at the Urban Institute, and Visiting Professor at Georgetown University. He also served as Deputy Assistant Secretary of the Treasury for Tax Analysis from 1998 to 2000, and as Senior Analyst at the Congressional Budget Office from 1988 to 1997.

Dr. Burman is the author of a book, The Labyrinth of Capital Gains Tax Policy: A Guide for the Perplexed, and numerous articles, studies, and reports. He is also a commentator for Marketplace. Recent research has examined the individual alternative minimum tax, the changing role of taxation in social policy, and tax incentives for savings, retirement, and health insurance. He holds a Ph.D. from the University of Minnesota and a B.A. from Wesleyan University.

Donna J. Gambrell

Deputy Director for Compliance and Consumer Protection,
Division of Supervision and Consumer Protection,
Federal Deposit Insurance Corporation

Donna Gambrell has dedicated the past 25 years to public service. As the Federal Deposit Insurance Corporation’s (FDIC) Deputy Director for Compliance and Consumer Protection, Ms. Gambrell plays an influential role in the areas of consumer protection and public policy, oversees a 500-employee bank examination program, and manages one the FDIC’s most visible corporate initiatives—a financial education program called Money Smart, which has reached thousands of low-and moderate-income persons across the country. In October 2003, the Money Smart program was recognized with a Service to America medal by the Partnership for Public Service for positively affecting the lives of thousands in underserved populations.

Ms. Gambrell began her career with the FDIC in April 1991 as a Community Affairs Officer in the agency’s New York Region. In March 1996, Ms. Gambrell was promoted to Deputy Regional Director with her area of responsibility including supervision of compliance examinations in the New York Region. She served in this capacity until April 1997, when she was appointed to the position of Associate Director for Consumer/Community Affairs and Outreach in Washington. D.C. In June 2000, she was promoted to Deputy Director of FDIC’s Consumer/Community Affairs and Operations Branch in Washington. In June 2002, she was named Deputy Director for Compliance and Consumer Protection of the newly created Division of Supervision and Consumer Protection.

Prior to joining the FDIC, Ms. Gambrell worked at the Resolution Trust Corporation (1989-1991), the Federal Savings and Loan Insurance Corporation (1987-1989), and the General Accounting Office (1979-1987).

Ms. Gambrell received a Bachelor of Science Degree from Towson State University (Baltimore, MD), and a Master of Science Degree from New York University. In addition, in March 2004, Ms. Gambrell was recognized with a National Public Service Award by the American Society for Public Administration and the National Academy of Public Administration for “making a difference” in public administration over a sustained period of time.


Last Updated 12/22/2004 communications@fdic.gov