I am David Resler (dhresler@aol.com), an economic consultant living in Savannah, Georgia. In November, I retired from my position as Managing Director and Chief Economic Advisor at Nomura Securities International, Inc. I had previously served Nomura as Managing Director and US Chief Economist from 1986 – 2011. During my tenure at Nomura, my views and analysis appeared frequently in the financial press including The Wall Street Journal, The New York Times, The Financial Times, The Economist, and Barron's. I have also appeared frequently on various business programs on CNBC, the Fox Business Network, Bloomberg television and radio, the BBC, and the Nightly Business Report. It has been my good fortune that my economic forecasts have consistently ranked among the top in surveys of professional forecasters and have been a four-time Money Watch “forecaster of the month.” Summarizing analysis conducted by the Atlanta Federal Reserve Bank of the Wall Street Journal’s semi-annual survey forecasts, John Hilsenrath of the Journal in July 2002 dubbed me “top dog” among those who’ve participated continuously for at least the last three years. In January 2003, I once again tied for the top spot in forecast accuracy. The Wall Street Journal ranked my 2010 forecast second. I had the honor too of chairing the Securities Industry and Financial Markets Association’s (SIFMA) Economic Advisory Committee from 2006-2009. I graduated with honors from Muskingum College (now, University) in New Concord, Ohio before receiving masters (1973) and doctoral (1977) degrees from The Ohio State University. In June 2012, Muskingum selected me as one of four recipients of its alumni “2012 Distinguished Service Award.” Before joining Nomura, I was a Vice President and Chief Financial Economist at the First National Bank of Chicago. I had earlier worked as Economist at the Federal Reserve Bank of St. Louis and was Assistant Professor of Economics at St. Louis University. I have taught undergraduate economics at Washington University in St. Louis and at Seton Hall University in South Orange, New Jersey. I also was a Lecturer for a course on financial institutions at the Kellogg Graduate School of Management at Northwestern University. I am a member of the American Economic Association (AEA), the National Association of Business Economists (NABE), and a non-resident member of the Money Marketeers, and the Forecasters Club. I was President of the Money Marketeers of New York University during its 50th anniversary year in 1996-1997. My research has been devoted principally to the money and capital markets with particular emphasis on policy analysis. My research reports have also spanned a wide range of topics including labor market developments, government debt management, international trade, real estate markets, consumer economics, financial market regulation, demographic trends, and fiscal and monetary policy. I have also applied economic research methodologies to analyzing and predicting Presidential and Congressional elections. My published academic research includes work on inflation expectations, the Euro-dollar market, and Federal Reserve operating procedures. I have served as Director of a privately held company in St. Louis, Missouri, as a member of the Economic Advisory Committee of the New York State Comptroller’s Office, and as a member of the National Major Gift Committee of The Ohio State University. I have also served on the Investment Advisory Committee of the Grace Episcopal Church of Madison, New Jersey and in 2012 completed a three-year stint as a member of the Governing Board for Harmonium, a non-profit choral society. I currently serve on the Board of Directors of Ariel Savannah Angel Partners (ASAP, which invests in early stage start-up companies.