Tioga County’s economic forecast forum

OWEGO, NY (WIVT/WBGH) – Business owners and stakeholders in Tioga County gathered to hear experts share predictions about our economy.

The Tioga County Chamber and Tioga State Bank held an economic forecasting forum for businesses and leaders in the county last week.

The event was held in Owego, featuring keynote speakers, E.J. McMahon from The Empire Center for Public Policy, and SUNY Broome Professor of Economics Giovanni Scaringi.

Scaringi described the economy by saying, “we are operating on borrowed time.”

Scaringi says business owners should keep their eyes on the Federal Reserve’s interest rate of 5.5%.

Professor of Economics at SUNY Broome, Giovanni Scaringi says, “We want to ensure that people and institutions and even non-profits, that they have the agency and the knowledge to make the decisions that are the best for their organizations and for our local community as we move forward through the next year.”

He says the geo-political issues around the world and in our own country, will continue to influence the Fed’s decision to raise or lower interest rates.

He says be on the lookout for economic projections coming from the Fed in the next 3 to 6 months.

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