Travelers chief speaks to bankers

Joan K. Woodward, president of The Travelers Institute, the public policy division of The Travelers Companies, spoke recently to 300 guests and employees of Fairfield County Bank and its financial and insurance divisions at the Rolling Hills Country Club in Wilton.

Woodward talked about the state of the global economy, the key policy debates taking place on Capitol Hill, and cyber security.

Woodward said that while the U.S. is projected to still be the largest economy by GDP in 2030, China will likely be a close second. She highlighted home sales as an essential part of economic growth, and noted that in 2010, new home sales bottomed out at 287,000, but have rebounded to 592,000 as of November 2016.

Of cyber security, a top concern for businesses, she said businesses of all sizes should have a plan and know the steps to take when an incident occurs.

Woodward was the Deputy Chief of Staff for the U.S. Senate Finance Committee, Senior Economist for the U.S. Senate Governmental Affairs Committee, and economist for the U.S. House budget committee.