Economic Outlook Conference

According to the Tennessean, "the common thread [among] the forecasts delivered at MTSU's annual economic outlook conference by Dennis Lockhart, president of the Federal Reserve Bank of Atlanta; David Penn, MTSU economist; and Don Ratajczak, a consulting economist with Morgan Keegan & Co. ... was that things may get worse before they get better here and in the nation, although it remains unclear whether recent turmoil in the credit markets will resurface.

• "'I cannot rule out a recession for next year, but I can't rule one in either,' Ratajczak said ... [and suggested] concerns among consumers about the economy ... could translate into a weak holiday shopping season.
• "Lockhart suggested 'the bottom of the housing downtown could be ... potentially the second half of 2008 or later.'
• "Penn predicted, 'If we look over the next 12 months, I think we should be happy with 1 percent employment growth (locally).'"