LEADING CSUF ECONOMISTS PREDICT HARD-ISH LANDING FOR U.S. ECONOMY

28th Annual Economic Forecast Conference co-hosted by CSUF and OCBC ANAHEIM, CA (October 28, 2022)—While the economy remains complex and traditional recession indicators are not pointing to a recession yet, California State University, Fullerton (CSUF) economists Dr. Anil Puri and Dr. Mira Farka forecasted an eventual recession that could last through 2024 at the 28th Annual Economic Forecast Conference. The October 27 conference, a collaboration of California State University, Fullerton (CSUF) and Orange County Business Council (OCBC), also marked the release of the 2023 CSUF Economic Forecast Report. Dr. Anil Puri is the Provost Emeritus and founding Director of the Woods Center for Economic Analysis and Forecasting at CSUF and Dr. Mira Farka, an Associate Professor of Economics, serves as the Co-director of the Woods Center for Economic Analysis and Forecasting at CSUF. Puri, who has served as dean of the College of Business and Economics at CSUF, most recently served as CSUF’s interim provost and vice president of academic affairs. Farka has been published in academic journals and is a nationally recognized economist for the accuracy of her forecasts. Both shared insights into the current economic environment including recessionary risks, stagflation and potential limitations for growth locally and nationwide before an audience of more than 350 attendees. New to this year’s conference was a panel of commercial real estate and banking experts who examined interest rate risks, post-pandemic trends and projected market conditions. Panelists included Allen Buchanan, Principal at Lee & Associates Real Estate Services, Jeff Manley, Senior Managing Director and Board Member of Savills USA, and Michael Nguyen, Managing Director, Real Estate Banking at Banc of California. Jeff Ball, President and Chief Executive Officer of OCBC, served as moderator. The 28th Annual Economic Forecast Conference was sponsored by title sponsor Commercial Bank of California and presenting sponsor Experian. About Orange County Business Council For over 25 years, Orange County Business Council (OCBC) has been representing and promoting the region’s business community together with government and academia to enhance the economic development of the nation’s sixth largest county, Orange County. The Council’s initiatives include advocating for adequate investment in regional and statewide infrastructure, education development that leads to a competitive workforce, advocating for a supply and range of housing, and developing pro-business solutions that lead to economic growth. Member organizations include businesses and local organizations representing a diverse cross section of industries including biomedical, construction, education, financial services, health care, manufacturing, municipalities, nonprofit, real estate, technology, tourism, transportation, real estate and utilities. For more information, visit ocbc.org. Media Contact: Lizz Mishreki, APR Vice President of Communications Orange County Business Council [email protected]