UCLA Anderson Forecast’s third quarterly economic report in 2015 for the United States considers whether or not the economy can withstand an increase in the prime lending rate. The forecast concludes that the answer is, “Yes.” All the Anderson economists’ reports will be presented at the sold-out quarterly conference on Monday, September 28, 2015, starting at 1:15 p.m. The conference features a number of panels focused on the housing industry and includes a keynote address from Dr. John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco.
The forecast for the national economy for the next two years is a healthy one, a slim chance of a recession and a slight chance of a surge in growth. In California, the forecast remains largely unchanged since June. Growth in employment in California will continue, albeit it at a slower pace by 2017, as the unemployment rate falls to about 4.8%, similar to that of the nation as a whole.