The Cape Ann Chamber of Commerce will host its annual economic forecast breakfast on Tuesday, January 29, at The Essex Room at Woodman’s, with check-in and networking from 7:00 to 7:30 am and the program beginning at 7:30 am.

This year the Chamber welcomes economist Peter Diamond, a Nobel laureate and professor emeritus at the Massachusetts Institute of Technology. Professor Diamond’s timely presentation will address the ongoing fiscal and budgetary issues currently being deliberated by political leaders in Washington, including looming deadlines for raising the nation’s debt ceiling and dealing with deep scheduled across the board cuts in defense and non-defense spending.

Professor Diamond will share his insights on the big variables that can make the difference between another recession and a faster recovery, and the impact of moving too quickly toward closing our nation’s deficit. He has researched and written extensively on some of the main economic policy actions now being debated and how they work, including how deficit spending or austerity measures can affect recoveries.

He earned a bachelor’s degree summa cum laude in mathematics from Yale University and a Ph. D at the Massachusetts Institute of Technology. He has been a professor of economics at MIT since 1970, and has authored or co-authored several books on pensions and social security.

In April, 2010, Professor Diamond was nominated by President Obama to fill a vacancy on the Federal Reserve Board but subsequently withdrew his name from consideration when his appointment encountered opposition from Republicans on the Senate Banking Committee.

In October, 2010, Professor Diamond was awarded the Nobel Prize in Economic Sciences, along with Dale T. Mortensen and Christopher Pissarides “for their analysis of markets with search frictions”. As reported in the MIT News at the time: ‘Among many other avenues of research he has pursued in his career, Diamond helped develop studies from the late 1970s onward that examined the ways markets function over a period of time. This aspect of economic research ‘ ‘search theory’ ‘ has been frequently applied to labor markets in the years since, in an attempt to see how the needs of individuals and employers are met.’

The Economic Forecast Breakfast will also feature such regular highlights as the introduction of new Chamber members, special salutes, and the chance to connect with business colleagues and elected officials. Breakfast by Woodman’s is included and the program will conclude by 9:00 a.m. Tickets are $35 in advance ($45 day/week of) for members and $50 for future members, and may be reserved by emailing or calling the Chamber office 978-283-1601.

About the Cape Ann Chamber of Commerce: The mission of the Cape Ann Chamber of Commerce is to serve as the principal voice of business in Essex, Gloucester, Manchester-by-the-Sea, and Rockport while working to enhance both the economic environment and the quality of life for the citizens of Cape Ann.