Economist John McDevitt on the 2006 and Beyond (34:28)
April 20, 2006—John McDevitt, former 3M Corporate Economist, now in semi-retirement, discusses the state of today’s economy, the consumer and his expectations for retail spending for the second quarter and 2006 and factors that may affect spending in the months ahead. McDevitt looks at the rising prices of oil and energy, his expectation as to when the Federal Reserve will take a rate hike breather. He takes a look at the health of the manufacturing sector and reviews the housing market, sharing his forecast for 2006.