David Malpass

David Malpass is president of Encima Global, an economic research and consulting firm serving institutional investors and corporate clients. His work provides insight and analysis on global economic and political trends, with investment research spanning equities, fixed income, commodities, and currencies. Formerly Bear Stearns’ chief economist, Malpass’s team ranked second in the Institutional Investor ranking of Wall Street economists in 2005, 2006, and 2007. Malpass co-authors the Current Events column in Forbes magazine and his opinion pieces appear regularly in the Wall Street Journal. He sits on the boards of the Economic Club of New York, the Council of the Americas, and the National Committee on U.S.-China Relations.Between February 1984 and January 1993, Malpass held economic appointments in the Reagan and Bush administrations. He was deputy assistant Treasury secretary for developing nations, a deputy assistant secretary of State, Republican staff director of Congress’s Joint Economic Committee, and senior analyst for taxes and trade at the Senate Budget Committee.In his government positions, Malpass worked on an array of economic, budget, and international issues, including: the 1986 tax cut, several congressional budget resolutions, the Gramm-Rudman budget law, the savings-and-loan bailout, NAFTA, the Brady plan for developing-country debt, and fast-track trade authority. He was a member of the government’s Senior Executive Service and has testified frequently before Congress.From 1977 to 1983, Malpass worked in Portland, Ore., as a CPA with Arthur Andersen’s systems consulting group, as controller for Consolidated Supply Co., and as a contract administrator at Esco Corp., a steel foundry.Malpass received a bachelor’s degree in physics from Colorado College and an MBA from the University of Denver. He studied international economics at Georgetown University’s School of Foreign Service, and speaks Spanish, French, and Russian.

The Latest

Politics & Policy

The Small-Business Dilemma

The economy has strengthened some in recent months — helped by inventory building and excess monetary stimulus from the Federal Reserve — while payroll employment is finally stabilizing. But the ...
Politics & Policy

Somewhere Short of a V

Are we in the midst of a V-shaped recovery, where the economy rockets back to robustness following a painful downturn? Are we witnessing the short-lived acceleration that precedes an economic ...
Politics & Policy

The Fed Lacks Urgency

The Federal Reserve made the correct call last week to increase its purchase commitments for mortgage-backed securities and bonds linked to mortgage lending. However, the Fed didn’t say it would ...

Why Markets Don’t Like the Geithner Plan

Markets have reacted negatively to the Geithner plan, with equities falling and the three barometers of risk aversion all worsening — the yen strengthened, gold rose, and Treasury yields fell. ...
Politics & Policy

The Path to Recovery

The economic and financial-market events of late 2008 can be boiled down to this: The surprise Lehman bankruptcy froze credit markets, the U.S. economy hit a brick wall, and the ...
Politics & Policy

Here We Go Again?

The 2005 year-end equity rally, like the one in 2004, makes sense based on steady economic growth, consumer resilience, solid corporate profits, and the realization that rate hikes are reducing ...