Cost:

FWA Members: $50  |  Non-Members: $75

 

Registration closes at 11:59 pm EST on Nov. 18, 2025.

 

 

Description: 

 

From shifting monetary policy to global market volatility, investors are navigating a complex and unpredictable environment.  Join George Goncalves (MUFG), Darlene Pasquill (Mizuho), and Monica Guerra (Morgan Stanley Wealth Management) for a wide-ranging discussion on how economic forces and U.S. policy are shaping the outlook for markets— and what it all means for portfolios in the months ahead. This panel, moderated by CNBC’s Steve Liesman, brings together leading voices across equities, fixed income and policy to discuss how markets are responding to today’s economic headwinds, what risks may lie ahead and where opportunities could emerge.

 

 

Bios:

 

George Goncalves, Head of US Macro Strategy, MUFG

 

An industry veteran with more than 25 years on the sell-side and buy-side, George joined MUFG in 2021 as head of U.S. Macro Strategy with a mandate to formulate U.S. fixed income views, drive market strategy thought leadership, and actionable trade ideas for clients. He focuses on rates, MBS, credit, the Fed/global central bank policy, U.S. dollar funding dynamics and all things macro-related.

 

George spent nearly a decade at Nomura Securities, first as the chief U.S. Rates Strategist and later as the Head of U.S. Fixed Income Strategy in the Americas. Over his tenure at Nomura, he oversaw teams of analysts and strategists covering U.S. rates, U.S. credit and emerging market rates.

 

Prior to that, George was a senior research analyst at both Morgan Stanley and Bank of America. He started his career in the Fixed Income markets on the buy side at the formerly known Merrill Lynch Asset Management division in institutional separate accounts, analyzing and co-managing portfolios of Treasuries, repo, short-term credit and MBS as an assistant portfolio management analyst.

 

George is an active guest on Bloomberg TV and a frequently quoted source in various financial media outlets.

 

George received his joint degree in Finance/Economics and Political Science from Rutgers University’s School of Management in 1998.

 

 

Darlene Pasquill, Head of Americas Equity Division, Mizuho                      

 

Darlene Pasquill joined Mizuho Americas in November 2018 as Managing Director, Head of the Equity Division, where she is responsible for the Americas Equity Division’s strategy, PNL, Risk, Research, and Sales & Trading across US & Japan/Asia Cash, Exotic and Corporate Equity Derivatives, Convertibles, Futures, and Financing.

 

In this role, she has positioned the Equity Division to service both institutional and corporate clients in-line with her expansion of the Americas Equity Research coverage universe, the broadening of the division’s product suite, and its partnership with the Investment and Corporate Banking Division to grow Equity Capital Markets.

 

Ms. Pasquill is a member of Mizuho Americas’ Management and Risk Committees and a Board Member of the Mizuho USA Foundation and the American Classical Orchestra. Prior to joining Mizuho, she spent 17 years at Credit Suisse, most recently as Managing Director and Head of the Credit Suisse Americas Equity Division, where she was also a member of the Americas Equity Operating and Global Equity Operating Committees. She joined Credit Suisse in November 2000, when the firm merged with Donaldson, Lufkin, and Jenrette (DLJ). Prior to joining DLJ, she worked in the healthcare industry for the Stryker Corporation in San Jose, CA as an Orthopedic Marketing and Manufacturing Manager. Before joining Stryker, she worked in the industrials industry at Owens Corning Fiberglas as a Technical Sales Specialist in Chicago and the Southeast.

 

Given her dedication to clients and leadership development, Ms. Pasquill won the “Excellence in Leadership” award at the 2021 Markets Choice Awards for Women in Finance.

 

She received her M.B.A. from Harvard Business School and her Bachelor of Science degree with honors, from the University of Massachusetts - Dartmouth. Ms. Pasquill is married, has an 18-year-old son, and resides in New York City and Mattapoisett, Massachusetts.

 

 

Monica Guerra, Head of US Policy, Morgan Stanley Wealth Management                

 

Monica Guerra is an executive director and head of US Policy for Morgan Stanley Wealth Management. In this role, she drives strategic public policy and market strategy, providing multi-asset investment guidance to financial advisors and clients. Prior to this role, she was a strategist on the Morgan Stanley Wealth Management Municipal Research team, and before that, a credit analyst in the Public Finance Group at Fitch Ratings. With a decade of public service experience, Monica has held roles shaping economic and fiscal policy, including serving as a director of capital budget and economic development for the City of New York, a member of the New York State Regional Economic Development Councils, and as a legislative aide in the US House of Representatives, where she developed financial regulatory policy and led federal appropriations efforts.

 

Monica is a contributor on Bloomberg News and her views have been cited by the Financial Times, Barron’s, and Politico, among other publications. She holds a BFA from Northern Illinois University, an MPA in Public Finance from NYU, is a Council on Foreign Relations corporate leader, and was a 2023 fellow of the Economics Club of New York.

 

 

Steve Liesman, Senior Economic Reporter, CNBC                    

 

As CNBC’s senior economics reporter, Steve Liesman reports on all aspects of the economy, including the Federal Reserve and major economic indicators. He appears on “Squawk Box” (M-F, 6AM-9AM ET), as well as other CNBC programs throughout the business day.

 

Liesman joined CNBC from The Wall Street Journal where he served as a senior economics reporter covering monetary policy, international economics, academic research and productivity. At the Journal, Liesman previously worked as an energy reporter, and Moscow bureau chief. He won an Emmy for his coverage of the financial crisis and was a member of the reporting team recognized with a Pulitzer Prize for stories chronicling the crash of the Russian financial markets. 

 

Prior to joining the Journal in 1994, Liesman was the business editor for The Moscow Times, where, as the founding business editor for the country’s first English-language daily newspaper, he helped create the publication’s stock index, which was the country’s first. Liesman also has worked as a business reporter for both the St. Petersburg Times in St. Petersburg, Fla., and The Sarasota Herald-Tribune in Sarasota, Fla.

 

Liesman holds an M.S. from Columbia University Graduate School of Journalism and a B.A. in English from the State University of New York, Buffalo.