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Somers Economist S Jay Levy Dies At 90

SOMERS, N.Y. – S Jay Levy, of Somers, died Oct. 4. He was 90.

A noted economist and forecaster for nearly seven decades, Levy was most recently a partner at Jerome Levy Forecasting Center LLC, based in Mount Kisco.

Levy was born May 31, 1922, in New York City. After graduating from Townsend Harris High School, he earned a bachelor's degree from City College. He met Barbara J. Henly in 1948 and they were married 63 years before her death this past March.

He founded Industry Forecast in 1949, which continues to this day as The Levy Forecast, the oldest publication focused on analyzing and forecasting U.S. economic conditions. He also worked as a consultant to major corporations and financial institutions and was eventually joined in the business by his son, David, who lives in Waccabuc.

Levy had a remarkable record of calling business cycle turning points, prompting a Barron's editorial to dub him "the Doughty Maverick" in 1959. Throughout his career, he was sought out by public officials, private corporations and the news media for commentary.

He also testified before Congress and met with high-level congressional, administration and Federal Reserve officials to discuss economic policy and to provide analysis of economic conditions. He wrote several monographs, articles and columns and coauthored a book, “Profits and the Future of American Society,” with his son, David.

In 1986, Levy became chairman of the Jerome Levy Economics Institute at Bard College. He left in 2001 when the Forecasting Center returned to the business sector.

Throughout his life, Levy supported his community and country through active participation in civic and educational activities. He served on the Academic Freedom Committee of the American Civil Liberties Union and was involved in numerous other organizations. Locally, he was a member of the Temple Beth El in Chappaqua.

Levy is survived by three children, Ann Levy, David A (Judith Butler) Levy, and Joshua R. (Pam Magnuson) Levy; and four grandchildren.

A memorial service will be held at 2 p.m. Sunday, Oct. 14, at Temple Beth El. In lieu of flowers, memorial donations may be made to the City College of New York or a cause he would have valued.

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