As Federal Reserve Chairman Ben Bernanke delivered an upbeat outlook on the nation’s economy Tuesday, Portland economist Bill Conerly spoke optimistically about this region.
“I think we’re in the neighborhood of the bottom of the recession,” Conerly told the nearly 250 people gathered to hear his economic forecast.
“It’s not going to feel like it’s over until we regain all that lost ground,” he said. “That’s going to be the summer of next year.”
This quarter will be one of transition, he said.
“Things don’t turn around suddenly,” Conerly said. “We’ve got the stimulus in the pipeline. It’s going to come out the other end.”
Read Erin Middlewood’s full article “Economist sees bottom for recession” in Columbian (May 5, 2009).