Baker College to host Fed economic forecast Feb. 3

Two economists from the Detroit branch of the Federal Reserve Bank of Chicago will present an economic forecast for 2016, Wednesday, Feb. 3, 6-8 p.m. at the Baker College of Flint Center for Business, 1050 W. Bristol Road. The event is free and open to the public; registration is not required.

The Fed presenters, Paul Traub, senior business economist, and Martin Lavelle, business economist, will look at what 2016 may hold economically for the state of Michigan, the region and the nation.

“The economy affects everyone’s lives on many levels so the opportunity to get an economic analysis from two of the region’s top economists is not to be missed,” said John Cote, Ph.D., Baker College of Flint dean of business administration. “The Federal Reserve is the nation’s central bank, and the speakers are experts on Michigan’s economy who will offer valuable insights for students, civic leaders and citizens alike.”

Baker College and the Flint and Genesee Chamber of Commerce are co-sponsoring the event as a public service to the community. Cote said that Baker College students are encouraged to attend, and many instructors, especially for the business administration programs, bring their classes to the forecast.

Traub is responsible for research and current analysis at the Detroit branch. Prior to joining the Fed, he was president of Scenario Economics LLC and senior economist for Americas Commercial Transportation Research Company LLC. In 2008, he retired from the position of corporate economist after 25 years of service at Chrysler Group LLC. He worked in the Chrysler corporate economist 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 is a member of the Baker College of Flint Board of Trustees, Detroit Association of Business Economists Board of Directors, the National Association of Business Economists and the Detroit Economic Club. He also serves on advisory boards for the Baker College of Flint Center for Business, Lawrence Technological University’s College of Management and the U.S. Army TACOM LCMC, and has served as adjunct faculty at Oakland University’s School of Business. He earned a bachelor’s of business administration from the University of Michigan-Dearborn and an MBA from Oakland University.

Lavelle is responsible for economic research, education and outreach at the Detroit branch. His research topics include the auto industry, consumer spending, business activity, the U.S.-Canada border and how they impact Michigan’s economy as well as the Fed’s Chicago District and national economies. In addition to work at the Fed, Lavelle teaches managerial economics at the University of Michigan–Dearborn and volunteers with Junior Achievement teaching high school students about entrepreneurship. He holds a bachelor’s in business and a master’s in economics from Miami University in Oxford, Ohio.

The Federal Reserve Bank of Chicago is one of 12 regional Fed banks across the country that, together with a board of governors in Washington, D.C., serves as the central bank for the United States. The Chicago Fed serves the Seventh Federal Reserve District, which includes 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.

For more information about the 2016 economic forecast presentation, contact Kevin Pnacek at kevin.pnacek@baker.edu or 810.766.4000.

The largest private college in Michigan, Baker College is a not-for-profit higher education institution accredited by the Higher Learning Commission. It serves more than 23,000 students on multiple campuses and online. Baker grants certificates and associate, bachelor’s, master’s and doctoral degrees in more than 150 programs across diverse academic fields, including business, health sciences, engineering, information technology, education and human services. An impressive 97 percent of available graduates are employed. Every Baker graduate receives Lifetime Employment Assistance—free and forever. Baker is a pioneer in distance education and offers students the option of completing a degree 100 percent online, without ever visiting a campus. For information, visit www.baker.edu or follow Baker College on Twitter, @bakercollege, or on Facebook, www.facebook.com/bakercollege.