Economist John McDevitt Assesses the Economy - Part 1 (21:18)
October 20, 2007—John McDevitt, Former 3M Corporate Economist, in the first part of a two-part series assesses the economy discussing the housing sector and Treasury Paulson’s recent remarks related to the housing and credit markets and their impact on the economy. McDevitt talks about the housing slump and its past and future effects on the total economy, the National Association of Home Builders Housing Market Index and the commercial building market. Also discusses is the recent Commerce Department’s August snafu when it reported a loss of 4,000 jobs only to have it revised to an increase of 110,000 jobs.