McDevitt Assesses the State of the Economy
August 25, 2005—John McDevitt, former 3M Corporate Economist now in semi-retirement looks at the state of the economy answering the question: Is the economy cooling or not? McDevitt offers his forecast for the remainder of this year and into 2006 discussing rising oil prices, the toll they are taking on various segments of the economy and their affects on consumers, manufacturers and retailers. McDevitt also looks at the housing and construction markets, their strengths and weakness and where his sees these markets going this year and next. He also offers his insight into the Federal Reserve and when they may halt interest rate hikes.