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Dear R. Hunter,

The global economic landscape has shifted dramatically in the last five
years. Post-crisis at the end of 2009, most of the industrialized world
was just emerging from severe recession while developing economies
rebounded. The paradigms that have predicted where post-downturn growth
would be weak or strong no longer apply. This has important
implications for the outlook for international monetary policy and the
global economy during the next couple of years.

I will be conducting a conference call on Thursday, December 18 th at
11:00 am EST/10:00 am CST where I will provide my forecast for the
global economy for the year ahead, analyze the outcome of the upcoming
Fed meeting, and discuss the major wildcards that could come into play
next year.

Your questions are warmly invited, either by emailing them in advance to
our director of research, Mark Zoff , or on the call itself.

Please utilize the following dial-in information for Thursday's call:

US Dial-In Number: (866) 941-8436

Non-US Dial-In Number: +1-951-262-8436

Passcode: 578332#

To access our most recent reports, please visit davidhaleweb.com

https://www.davidhaleweb.com/?wv_name=R. Hunter+Biden&wv_email=hbiden@rosemontseneca.com

. If you have not yet signed up for the recently revamped website,
please contact Mark Zoff , who will be pleased to send you your
company's access code. I f you cannot attend Thursday's call, contact
Mark and he will send you a link to the audio file. I look forward to
your participation on Thursday.

With all best wishes,

David Hale

Chairman

David Hale Global Economics, Inc.

546 Lincoln Avenue, 2 nd Floor

Winnetka, Illinois 60093 USA

847-386-6009 (tel)

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davidhale@davidhaleweb.com

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