As a new presidential administration takes shape in Washington, D.C., Americans await decisions that could have sweeping ramifications across the globe. Amid breaking news and speculation about what may come, 麻豆传媒 Economics Professors Bob McNab and Vinod Agarwal are crunching the numbers and analyzing potential policy decisions that will impact the economic outlook of 2025. They will share their projections at the 30th anniversary of the Dragas Center for Economic Analysis and Policy鈥檚 Annual Economic Forecast from noon to 2 p.m. on January 29 in the Big Blue Room at Chartway Arena.聽
Dr. Agarwal, economic forecasting project director, will deliver the forecast with Dr. McNab, director of the Dragas Center. Agarwal will offer predictions for Hampton Roads while McNab will present the outlook for the state and national economies. They will walk attendees through key indicators including gross domestic product, the labor force, payrolls and job openings to discuss emerging patterns. To analyze economic trends in Hampton Roads, the Dragas Center analyzed military employment, activity at the Port of Virginia, the hotel industry and the housing market.
Agarwal will discuss a possible reduction in the federal workforce and its impact on the Hampton Roads economy. His presentation will include聽the possible impacts of tariffs on the Port of Virginia.
McNab said there is a s significant amount of uncertainty regarding immigration, trade, tax and spending policy.
鈥淏y the time of the forecast event, we will have more clarity on what the new administration will do with regards to tariffs and immigration policy, but we are already seeing changes in real-time regarding the extent and scope of tariffs and who would be targeted by immigration enforcement actions,鈥 he said.
The Dragas Center is a hub for studies encompassing economics, demographics, transportation and defense. The economic data about year-over-year performance of the economy, as well as predictions of the year ahead, are drawn from the annual Economic Forecast. The report is much anticipated by business, community, political and thought leaders who rely on the professors鈥 assessments of the local, state and national economies to make decisions for their businesses and communities.
For registration information, visit聽.