Baker College of Flint Holds Economic Forecast Featuring Federal Reserve Bank Economist

January 21, 2013

Optimism key to business success in coming year
Paul Traub, business economist, Detroit Branch of the Federal Reserve Bank of Chicago, presented an economic forecast for 2013 on Monday, Jan. 21, at the Baker College of Flint Auditorium.

The presentation included a discussion about the state of the U.S. economy, as well as the outlook for Michigan.

“We’re in a cup half full, cup half empty attitude in this country until people become more optimistic,” said Traub. “With property values on the rise, energy costs down, interest rates at all-time lows and opportunities in Michigan improving daily, the business person who has an optimistic attitude will see greater opportunities.”

Public and community leaders, including those in business, automotive, education, government and health care industries, attended the free event.

“Mr. Traub provided an eye-opening economic analysis for public and area leaders from the perspective of the Federal Reserve Bank,” said John Cote, Ph.D., Baker College of Flint Dean of Business Administration. “There is so much uncertainty with the debt ceiling and fiscal cliff; it’s helpful to hear that opportunities are available for business people who go out and create their own destiny even in today’s market.”

Prior to joining the economic research department of the Chicago Federal Reserve, Traub was the Ppresident of Scenario Economics LLC and Senior Economist for Americas Commercial Transportation Research Company, LLC (ACT Research). 

Traub retired in 2008 from the position of Corporate Economist after 25 years of service at Chrysler LLC. He worked in Chrysler’s corporate economist’s office for more than 17 of those years, where his responsibilities included tracking the economy and forecasting its impact on North American auto sales, supporting new product development, and speaking to auto dealers and numerous professional organizations. Traub currently serves on the Detroit Association of Business Economists board of directors, is presently a member of the National Association of Business Economists and the Society of Automotive Analysts, and has served as an adjunct faculty member and is on the Economics Department Advisory Board for the School of Business Administration at Oakland University. He holds a B.B.A. from the University of Michigan-Dearborn and an M.B.A. from Oakland University.

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks across the country that, together with the board of governors in Washington, D.C., serve as the central bank for the United States. The Chicago Fed serves the Seventh Federal Reserve District, which includes all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin.

Congress created the Federal Reserve System in 1913, charging it with the responsibility to foster a sound banking system and a healthy economy. This remains the broad mission of the Fed and its components.

The Baker College System