John McDevitt, former corporate economist, 3M, now semi-retired, assesses the current state of the economy and its slow growth mode. McDevitt shares his GDP forecast for the next several years and how the economic situation today differs from those of previous decades, discussing the consumer and their level of confidence. He discusses retail sales growth, the housing market, the home ownership rate, sharing his forecast for housing, industrial production and his view of Janet Yellen and the Federal Reserve and when they will raise rates.

Posted: August 5, 2015