Economist John McDevitt on the Economy
May 31, 2007—John McDevitt, Former 3M Corporate Economist looks at the economy answering the question: Have we seen the worst of the slowdown? McDevitt talks about the housing sector as he shares his forecast for the remainder of 2007 and for 2008. He also disucsses the affects of the subprime mortgage situation on the market and his view on housing prices and inventories. McDevitt also discusses the commercial marketplace, consumer reaction to rising gasoline prices, his forecast for retail spending for the remainder of the year, his expectations for the Fed and for the manufacturing sector.