Economist speaks at Arlington Heights business breakfast
Although we are experiencing a "solid" recovery, "the Fed still will be required to promptly take further action to sustain our current growth," Lindsey M. Piegza, managing director, chief economist at Stifel, Nicolaus & Company Inc., told a group of more than 100 business professionals attending an economic breakfast.
Piegza presented her version of an economic forecast for 2018. She noted that we are currently enjoying a 2.5 percent growth spurred by continued consumer spending, boosted by the low cost of energy.
She added that she does not see three or four rate increases as others are predicting. She raised concerns over our national debt, pointing out that it continues to grow and will be very difficult to grow out of. Turning her attention to China, she downplayed any fears of China selling U.S. Treasury notes and playing havoc with our economy, noting we buy "lots of Chinese goods which they would really like us to continue doing."
The event was jointly sponsored by Glenview State Bank and Mount Prospect State Bank. John Eilering, president of Mount Prospect State Bank noted that this was the bank's third annual economic breakfast to which business bank customers are invited. The event was held at Atlantis Banquets in Arlington Heights.