Thanks to the policies of the Federal Reserve, quantitative easing and both long- and short-term interest rate projections, Nick Perna is optimistic, although not enthusiastic, about U.S. economic growth over the next decade.
"We're going to scrape by," Perna, the resident economist at Alloya Corporate Federal Credit Union in Warrenville, Ill., told attendees Oct. 9 at the Credit Union Association of New York's 2014 Economic Forum in Albany, N.Y.
"There will be ups and downs, but we will have enough momentum to move through it. But I would not rule out another period of low interest rates," Perna said.
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The outlook on the U.S. economy was generally positive, but he mentioned several global risks, including Europe's unstable economy, the war in Ukraine and turmoil in the Middle East, that could stifle recovery growth.
The CUANY forum kicked off Oct. 8 with a presentation from Gene Marks, a consultant, author, columnist and blogger who regularly contributes to national publications, according to the association. Marks also updated the group with business trends that are affecting small and mid-sized companies.
After Marks' presentation concluded, attendees chose from three concurrent breakout sessions that focused on increasing loan profitability, asset-liability management trends and the changing nature of recessions. The CUANY forum also offered a networking reception for opportunities to connect with peers.
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