Andrew B. Busch is the founder of andrewbusch.com, a research and consulting firm. Prior to, Andrew was the global currency and public policy strategist for BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group. He is a senior fellow on economic issues for the Illinois Policy Institute and an American Action Forum Expert. Busch consults with the staffs from the U.S. treasury, congress, and the White House on economic and financial market issues.
He was an advisor on the economy and the financial markets to U.S. Republican presidential candidate John McCain. Busch met recently with all the most senior staff at the U.S. Treasury. He has met and advised the last three U.S. Treasury Secretaries including Tim Geithner.
Busch is a recognized expert on the world financial markets and how these markets are impacted by political events. Busch recently spoke at the Pacific Economic Conference in Russia on the global credit crisis. He met and consulted with the governor of Primorsky Territory and the mayor of Vladivostok over the future direction of the Russian economy.
Busch has appeared for the last three years on CNBC's "Closing Bell " with Maria Bartiromo and is a CNBC contributor. He is regularly quoted in The Wall Street Journal, Reuters News Services, Dow Jones News Services, Associated Press, and The Globe and Mail.
Busch is a prolific writer whose views appear daily in his newsletter, the Busch Update. Monthly, he writes the Busch GPS: Global Political Strategy. Lastly, his book, "World Event Trading: How to Analyze and Profit from Today's Headlines" was translated into Mandarin in 2008 and into Japanese in 2009.
He joined BMO Financial Group in 1990 in the foreign exchange trading room of Harris Trust and Savings Bank, which merged with Bank of Montreal's room in 1995. Prior to joining Harris, Busch traded foreign exchange at Northern Trust Company.
Busch graduated Phi Beta Kappa with a B.A. in economics from Ohio Wesleyan University in 1983, and received his MBA from the University of Chicago in 1988.
On the opening of New York trading, central banks from 6 major countries cut interest rates by 50 basis points, with Japan and Norway not participating. This is another piece of the puzzle to stabilize the financial markets. I believe these central banks acted in concert to address the continued deterioration in lending and the further tightening of credit.
The Association of Financial Professionals (AFP) has released a report detailing how finance executives have taken defensive measures to deal with the credit crunch. (AFP is a membership organization that serves more than 16k corporate treasury and finance executives.)
The process to produce the Treasury Asset Recovery Plan from the US House has moved forward in the Senate. They have wisely remained it the Emergency Economic Stabilization Act of 2008, something I believe/suggested would help sell it to Main Street.