Obama economic team earns praise from NAM
'They are well qualified to contend with today’s economic challenges,' says Engler
The National Association of Manufacturers has been critical of Democratic economic policies and supported John McCain for president. So it came as either a sign of the changing times in Washington or a continuation of the honeymoon period that NAM president John Engler praised President-elect Barack Obama’s new economic team Monday.
Obama said he would nominate Timothy Geithner for Secretary of the Treasury, Lawrence Summers as Director of the National Economic Council and Christina Romer as Director of the Council of Economic Advisors.
“In the present environment, it is critically important that the President-elect convey a clear message that his Administration will be in place and ready to proceed on day one,” Engler said. “Geithner, Summers and Romer bring with them extensive experience dealing with complex economic issues and track records of success in difficult situations. They are well qualified to contend with today’s economic challenges and provide the leadership we need to get our economy growing again.”
Engler pledged support for the new economic team. “Clearly, the economy must be the first, second and third priority of the new Obama Administration,” he said. “That is one subject we can all agree upon.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey