US, California Headed Into Recession: Chapman Forecast
Commentary
The U.S. economy is wheezing, and with it California’s. The numbers tell the story, from Chapman University’s Economic Forecast Update, given at the school on June 22 by President Emeritus Jim Doti and his colleagues. The video can be found on YouTube. I’ve been attending Doti’s presentations for 36 years now, and he always puts on a good show.
Economics may be the “dismal science,” but with him it’s entertaining. For example, he compares the height of the Federal Reserve Board chairmen of the last 45 years to the average Fed Funds Rate, the main interest rate you hear about, during each’s tenure. From left right are Paul Volcker, Alan Greenspan, Ben Bernanke, Janet Yellen, and Jerome Powell:…