Dr. David M. Jones is President and Chief Executive Officer of DMJ Advisors LLC in Denver, Colorado. He was formerly the Chairman of the Board of Directors of Aubrey G. Lanston & Co., Inc. From 1968 to 1972, he was vice president and financial economist at Irving Trust Company in New York, and previously he was with the Federal Reserve Bank of New York, where he was head of the Business Conditions Section and an economist for the Domestic Trading Desk. Dr. Jones received his BA with honors from Coe College and his MA and PhD from the University of Pennsylvania. He has written Fed Watching and Interest Rate Projections: A Practical Guide; Politics of Money: The Fed Under Alan Greenspan; and, most recently, The Buck Starts Here: How the Federal Reserve Can Make or Break Your Financial Future.

Dr. Jones is a highly regarded finance expert. He has been invited to speak at many seminars and conventions including the AIMR Security Analyst's Seminar, the American Bankers Association Investment and Annual Conventions, the Institutional Investors Bond Conference, the Conference Board's Financial Outlook Program, Georgetown University Bankers Forum, and the Federal Reserve Bank of New York's Central Banking Seminar. Dr. Jones often lectures in Europe and Asia. He is a frequently quoted Fed commentator and often appears on CNBC, CNN, and other national network news shows as well as on NHK Japanese and BBC British networks. He has been featured in Smart Money, Money, and Barron's magazines.

Dr. Jones resides part of the year on Sanibel Island.

Dr. Susan M. Phillips is Dean and Professor of Finance in the School of Business & Public Management at The George Washington University in Washington, DC. She was a member of the Board of Governors of the Federal Reserve System from December 1991 through June 1998. Dr. Phillips received a B.A. from Agnes Scott College, an M.S. and a Ph. D. from Louisiana State University in 1973.

Before her Federal Reserve appointment, Dr. Phillips served as Vice President for Finance and University Services and Professor of Finance in The College of Business Administration at the University of Iowa. Dr. Phillips was a Brookings Economic Policy Fellow, and spent a year as SEC Economic Fellow with the Securities and Exchange Commission. In 1981, Dr. Phillips was appointed to membership on the Commodity Futures Trading Commission, and became its Chairman in 1983. She was reappointed as Commissioner and Chairman of the CFTC in 1985 and served until her resignation in 1987 when she returned to the University of Iowa as Vice President.

Dr. Phillips is a member of the State Street Research Mutual Funds' Board of Trustees and the State Farm Mutual Automobile Insurance Company's Board of Directors. She also serves on the boards of directors of the Kroger Company, the Chicago Board Options Exchange and AACSB International - the International Association for Management Education. Her areas of specialization include monetary policy, regulation and supervision of financial institutions, derivatives, financial management, and economic theory of regulation. She is the author of many scholarly publications, including a book written with J. Richard Zecher entitled The SEC and the Public Interest.