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Edmond Seifried, professor of economics and business, explained his economic views in California, Florida, Texas, and Washington, D.C. in recent months. In July, he will be the keynote speaker for the National Retail Hardware Association’s annual convention, discussing the “Economic Outlook Under the New Administration.”
Seifried spoke at the Texas Bankers Association’s 117th annual Convention & Exposition, held May 9-11 in San Antonio, Texas. His upbeat message stated that stocks will ride a wave of Baby Boomer spending fueled by a second-home building spree and the United States will benefit from foreign direct investment inflows.
Desert Community Bank in Victorville, Calif. invited Seifried for a two-day visit on May 7-8, during which he predicted that the U.S. economy will turn around by early next year. He also stated his contention that the Dow Jones Industrial Average will jump from its current mark of just more than 10,800 to hit 15,000 within three to five years and 25,000 within seven years.
Seifried was the keynote speaker at an event held by Riverside National Bank in Melbourne, Fla. in April. He noted that the U.S. economy and stock market may be suffering from the “reverse wealth effect,” the decrease in consumer spending when people believe the economy and stock market are losing momentum.
Seifried also was the keynote speaker at the American Bankers Association National Conference for Community Bankers in Orlando, Fla. in March. Causes for the economic slowdown include high consumer debt, the dotcom meltdown, and the “reverse wealth” effect from stock market losses, he stated.
Also in March, the Organization for the Promotion and Advancement of Small Telecommunications Companies brought in Seifried for its Second General Session in Washington, D.C. His presentation included an explanation of various economic growth indicators, such as the Composite Leading Index.
In January, Seifried spoke at the annual Economic Outlook Conference at Abilene Christian University in Abilene, Texas. He said that a recession would
be likely if the Federal Reserve did not lower its interest rate to about 6.25.