NEWPORT NEWS, VA. (WAVY) – Professors at Old Dominion University offered their insight into the economic condition of the United States and Virginia specifically. They warned of the economic uncertainties many are facing as we cross the mid-way point of this year.
During the economic forecast, Dr. Robert McNabb and Dr. Vinod Agarwal with ODU spoke on a variety of economic factors, starting with rising inflation.
“You would not be surprised to see headline inflation for the United States approach 4.5% by the middle of Summer,” said Dr. McNabb. “Markets are signaling they expect that the Federal Reserve will raise interest rates if not once, if not twice, possibly three times by the end of the year to combat inflation.”…