Marin economic summit spotlights recession prospects

The questions of whether the nation has entered a recession was a point of debate at a key economic summit in Marin this week.

“There’s very little doubt that we are in a Trump recession, almost entirely self-inflicted, pretty different than almost any recession I can remember in my lifetime,” Rep. Jared Huffman told an estimated 300 people who attended a San Rafael Chamber of Commerce economic forecast event on Thursday.

Christopher Thornberg, founder of Beacon Economics, a Los Angeles economic research firm, who delivered the keynote speech, said, “By the way, we’re not in a recession. Listen, recessions take a long time to kick in, and household finances are still strong. So we’re not there yet.”

Huffman, seated nearby, could be heard responding. “I disagree,” he said.

The event, underwritten by Bank of America, Sutter Health and Redwood Credit Union, was billed as an 2025 economic forecast, but Huffman and Thornberg also offered dueling interpretations of where the economy has been in recent months.

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By:  Richard Halstead
Source: Marin Independent Journal

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