Greater Beloit Chamber of Commerce: Federal Reserve economist coming to Beloit to provide 2010 economic forecast

Beloit, WI – (December 1, 2009) William Strauss, senior economist and economic advisor with the Federal Reserve Bank of Chicago, will be the guest speaker at the Greater Beloit Chamber of Commerce Economic Update on Tuesday December 8th from 5 p.m. to 7 p.m. at La Casa Grande Banquet Hall 618 4th Street in Beloit, WI.

According to GBCC Government Relations committee member Bernie Bowersock of North American Tool Corporation in South Beloit, Illinois, “The timing for this event is perfect, as the Economic Forecast Symposium will be held the previous Friday, December 4th at the Federal Reserve Bank in Chicago. At the Symposium, 35 to 40 key Midwest economists submit forecasts for the following year (2010). In addition, several key speakers present on a wide range of topics affecting our economy. The data we will hear on December 8th will truly be timely and insightful.” Some of the data Mr. Strauss will present include:

* Economic indicators such as gross domestic product which measures personal consumption, oil prices, and energy goods and services expenditures as a share of total consumption

* Business fixed investment – including nonfarm business productivity, industrial output from manufacturing, and inventories

* Residential investment – including mortgage rates, housing starts, foreclosures, pricing and inventory levels

* Government spending

* Net exports

Other economic indicators that Mr. Strauss will evaluate include:

* Imports, exports and the net change in the real value of the dollar

* Employment & unemployment rates

* Stock market performance, Fed rates and Treasury yields

The charge is $10 for GBCC members and $15 for non-members and includes light refreshments. A cash bar will also be available. Please RSVP in advance to (608) 365-8835 or [email protected]. Hendricks Development Group is sponsoring this event.

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About the Federal Reserve Bank of Chicago

The Chicago Federal Reserve Bank is one of 12 regional Reserve Banks across the United States that, together with the Board of Governors in Washington, D.C., serves as the central bank for the United States.

About the Greater Beloit Chamber of Commerce

The Greater Beloit Chamber of Commerce is a not-for-profit organization comprised of a diverse membership of businesses and organizations. The GBCC serves the business community by providing effective benefits and programs to its membership with the coordinated involvement of government, educational and other community organizations.