A panel of experts in the fields of finance and legislation recently gathered at Hotel Arista to give their fiscal predictions for our area.
At the Naperville Area Chamber of Commerce and Calamos Investments annual Regional Economic Forecast, John P. Calamos, Founder of Calamos Investments, Blu Putnam, Chief Economist for the CME Group, and Caroline L. Harris, Vice President of Tax Policy with the U.S. Chamber of Commerce, all weighed in on our fiscal outlook – starting with the slow growth of the U.S. market.
“Markets may be flat, but within the market there’s a lot going on in the different sectors. So that’s going to be important from an investor point of view going forward,” said Calamos.
The experts anticipate continued slow growth due to government regulations.
They also expect an increase in interest rates.
“There’s a lot of talk about raising rates 25 basis points, big deal. We need a much more normal interest rate environment. Every time interest rates look like they’re going up, what sector takes off? Financials. Why? Because if you’re in a bank right now, and there’s no interest rates, how do you loan money out?” added Calamos.
Many are predicting a rate hike beginning in December.
And with the upcoming elections, all agree that no matter who wins, changes to financial legislation will be slow.
Naperville News 17’s Evan Summers reports.
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