The UCSB Economic Forecast Project held its winter meeting in Santa Barbara on February 24, featuring guest speaker Christopher Waller from the Federal Reserve Board of Governors.
“Let me comment on what I think is on everybody’s minds today, Russia’s attack on Ukraine,” Waller said. “Obviously, there are people in harm’s way and we shouldn’t lose sight of that. It is far too early to judge how this conflict will affect the world and world economy.”
Waller said that he expects the US economy to continue to grow in the coming year.
“I expect the economy to continue expanding at a healthy rate this year, slower than the rate in 2021, but still on a solid pace that will keep employment growing stronger,” he said.
He listed elevated inflation as his main concern, and said it’s time for the Federal Reserve to act.
“Inflation is too high and I think concerted action is needed to reign it…