Economist sees no sign of California economic decline, but says environmental risks threaten sustained growth – North Bay Business Journal

by | Apr 8, 2022 | Financial

While a growing chorus among U.S. economists is warning that soaring inflation and oil prices plus global instability could put recent economic growth into reverse, a UC Berkeley expert gave a much rosier outlook for the California economy at a Santa Rosa conference Thursday. But he warned of a bigger threat from environmental decline.
“California is recession proof, and our local economy is not going to tank,” said UC Berkeley economist David Roland-Holst, Ph.D., speaking at a Sonoma County Economic Development Board conference at the Luther Burbank Center for the Arts.
The conference theme was climate change and its impact on our economy. Roland-Holst is a professor in the Department of Agriculture and Resources Economics and a leading authority on economic forecasting and its relationship to the environment.
“I’m bullish on the Sonoma County economy,” he told the more than 170 business, civic and community leaders attending the event. “The good news is — so far — I don’t see an economic decline, and signs don’t point to one happening here due to the war in Eastern Europe. However, the (Federal Reserve is) not going to let interest rates move too high and has already started pulling back on …

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