Now that inflation has eased a bit, a former economics professor says the banking industry has thrown a monkey wrench into the U.S. economy. Former Monmouth College professor Ken McMillan, at a recent speaking engagement at the Monmouth Rotary Club, said making an accurate forecast this year is extremely difficult. He said the war in Ukraine is also clouding the picture.
McMillan says the volatile stock market is another wild card for the economy.
McMillan said this is the most uncertain economic period in his lifetime. The Federal Open Market Committee agrees. In its latest monetary policy statement, they said recent banking developments may result in tighter credit conditions for households, and the extent of those effects is uncertain.
Story from Illinois Radio Network
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