Wenatchee Chamber to host state’s chief economist

Posted on 26. Feb, 2010 by Lance Henderson in Community Voices

By Kristina Stepper

“The state’s Economic and Revenue Forecast Council projected an additional $118 million drop in estimated state revenue, pushing the total state budget shortfall to $2.8 billion. The forecast, released last Friday, also indicates that Washington’s economy is recovering, but some sectors, including exports and software, are performing better than others, such as commercial real estate. ‘The great recession may be over but it has wrought havoc on the economy, which will take time to heal,’ said Arun Raha, the state’s chief economist.” -Association of Washington Business weekly update 2/15/10

There’s just no question – the state economy is pretty grim. There are a couple of ways we can look at this: one is to point fingers and blame others, but that certainly isn’t going to solve the problem. Another option is to learn all we can about Washington’s current and projected economic condition so we are in the best possible position to be part of the solution.

Toward that more constructive end, there’s an educational opportunity coming up in March that you won’t want to miss. Dr. Arun Raha, Washington state’s chief economist and executive director of the Economic and Revenue Forecast Council, will be sharing his insight on our state’s economy at the Wenatchee Valley Chamber of Commerce Economic Indicators Seminar Thursday, March 18 at 7:30 a.m. at the Confluence Technology Center. The cost is just $15 for chamber members and $20 for non-members, which includes a catered breakfast. It’s a small price to pay for first-hand information from the man who has his finger on the pulse of Washington state’s economy.

Raha earned his master’s degree in Economics from the Delhi School of Economics. In 1985 he moved to the United States to study economics at Washington State University, where he earned his Ph.D. Prior to taking over as Washington’s chief economist at the end of 2008, Raha’s professional career included teaching economics at Boise State University, forecasting general fund revenue for the Idaho Legislature, director of the Asia Service for Wharton Economic Forecasting Associates (now Global Insight Inc.), manager of economic analysis of Eaton Corporation, serving on the Ohio governor’s Council of Economic Advisors, and vice president for economic research and consulting for Swiss Re, the world’s largest insurer. He received the Wall Street Journal’s forecasting award in January 2005 and the Federal Reserve Bank of Chicago’s top overall forecast prize in 2007. He has also served on the Wall Street Journal’s Economic Forecasting Panel.

We are fortunate to have Dr. Raha at the helm in the current economic climate. Take advantage of this very unique opportunity to meet him and hear from him in person at the upcoming Economic Indicators Seminar. Call the Wenatchee Valley Chamber of Commerce today at (509) 662-2116 to reserve your place.

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