John McDevitt – The Economy, Past, Present & Future
December 22, 2004—John McDevitt, former 3M corporate economist discusses the current business climate, the 4% growth of rate in 3rd quarter GDP and his forecast for 2005 GDP. McDevitt also looks at the present and shares his 2005 forecast for consumer spending, the manufacturing sector as well as housing and construction. He also examines the weak dollar and the Federal Reserve and offers his forecast on where both the funds rate and the dollar will be at the close of 2005.