You Decide: What Will Happen to the Economy in 2017?
I often begin my economic outlook presentations with the following joke: Professional economists are frequently called upon to make forecasts about economic factors like job growth, consumer spending, interest rates and inflation, and economists are very capable of making these forecasts – as long as they are for the past. Although meant to get chuckles, the joke actually has a strong component of reality. Our economy is very complex with millions of interactions and interrelationships. And while economists’ models can identify these linkages, and maybe even measure and calibrate them, the conclusions are not ironclad because the relationships can...
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