Merih Uctum Presents Findings on NY, U.S., and Global Economies
Professor Merih Uctum (GC/Brooklyn, Economics) recently lent her considerable expertise to the New York State Assembly Ways and Means Committee, analyzing economic and revenue forecasts before its Board of Economic Advisors.
Uctum’s report analyzed global economic trends and their potential impact on the U.S. and New York State economies. Among the findings:
Deflationary pressures persist due to low oil prices, lack of wage pressure, and the strength of the dollar weakening the export industry;
Labor force participation remains low;
Strong profits alongside slow wage and productivity growth contribute to rising income inequality;
The slowdown in China’s economy could affect U.S. multinational corporations, especially in the tech industry;
Nevertheless, “a global slowdown is unlikely to affect the NYS economy,” where exports are not as significant.
In general, Uctum described growth prospects for the U.S. economy as “positive but restrained.”
Uctum is an expert in international macroeconomics and finance. Her work focuses on fiscal solvency, international investments, financial crises, and other key economic issues. Before joining CUNY, Uctum was a research economist at the Federal Reserve Bank of New York.
Submitted on: JAN 8, 2016
Category: Economics | Faculty Activities | General GC News