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At New England Economic Summit, Caution Flag Raised for 2020

Providence Business News
October 30, 2019
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Citrin Cooperman Partner Peter Brown and Marketing Manager Ann Marie Carmichael were featured in the Providence Business New's Op-Ed providing a recap of the firm's recent 2019 New England Economic Summit.

"According to Basu, the duration of a stable economy has very little predictive power of when a downturn will occur. There are, however, plenty of “bad omens” that act as indicators. Any time the actual rate of unemployment dips below the natural rate (a number estimated by the Federal Reserve), issues emerge. This has been a flawless precursor of economic downturns, meaning it has happened before every recession in the past. A significant increase in income inequality can also be an influencer, with prices rising too fast for the general population to keep up. While Basu confirmed the global economy is getting weaker, he stated that the U.S. came in at 2.4% on the October report of global output growth – the best performer in the advanced nations."