Robert Hormats
Robert Hormats
Robert D. "Bob" Hormats is Vice Chairman of Kissinger Associates. Immediately prior he served as Under Secretary of State for Economic Growth, Energy, and the Environmentfrom 2009 to 2013. Hormats was formerly Vice Chairman of Goldman Sachs, which he joined in 1982. He served as Senior Deputy Assistant Secretary, from 1977 to 1979, and Assistant Secretary of State, from 1981 to 1982, at the Bureau of Economic and Business Affairs. He was Ambassador and Deputy U.S. Trade Representative from 1979...
NationalityAmerican
ProfessionPublic Servant
Date of Birth13 April 1943
CountryUnited States of America
Robert Hormats quotes about
The United States is still an enormous generator of innovation, from which other nations have long benefitted. But we now also have the opportunity to benefit from innovation taking place around the world.
Booming cities, and the provinces and states in which they are located, are driving forces in economic growth today. Consequently, they constitute the new frontier in America's international economic policy.
Learning from the American experience, governments around the world have developed national innovation policies and programs to accelerate their economic prosperity and to help their citizens and companies compete globally.
We have a conundrum. We have a strong economy, but lots of people feel insecure.
We've depended very heavily on the inflows of foreign capital. And if for any number of reasons foreigners are reluctant to buy --Treasuries in particular -- that could cause a certain amount of volatility in the market,
It's more of an opportunity than a threat,
The U.S. is better off because we would not be selling very much to Mexico today if the Mexican economy were in crisis. In fact, we are selling more to Mexico today than before the crisis occurred.
They were negotiating from a weaker position ... It would have been hard to defend some of these practices.
The refineries are going flat out and additional crude is not going to be able to go through those refineries right away, ... It's a good thing to show to the OPEC countries that we're doing something ourselves to increase supply, but it may not achieve much in the near term.
It is already putting downward pressure on the dollar and that will be a concern so they'll have to talk about trade and they'll have to talk about exchange rate stability,
We are massively reliant on foreign capital. One of the jobs of the next Fed chairman will be to keep investors confident in the economy.
Almost every major company in the world wants to do business with China or is in fact doing business with China and wants to participate in the growth of China. So if the transition goes well, that will reinforce their desire to build up their business relations with China.
They're doing what's proved to work in the past, which is to tighten rates.
They are doing better, but we've seen these packages in the past and it remains to be seen how much impact there will be in this package, ... But at least they're doing something and that's a plus.