RECon Special Report: Bernanke, Top REIT CEOs Share Insights
By
Tony Seruga
Mixed reviews for a “no respect” recovery but no recession in sight, says the former Fed leader.
Marcus & Millichap President & CEO Hessam Nadji discusses the economy with Ben Bernanke at the firm’s Retail Trends event.
Las Vegas—The economy was on the mind of thousands of real estate professionals at RECon this week, and a former Federal Reserve chairman took the occasion to downplay worries about an imminent downturn. “I don’t see any reason why the odds of a recession are any bigger than usual,” Ben Bernanke told Marcus & Millichap president & CEO Hessam Nadji on Monday afternoon.
Bernanke’s comment emerged at Retail Trends, the annual event hosted by the firm at the Renaissance Hotel in Las Vegas in conjunction with the International Council of Shopping Centers’ spring convention. Bernanke, who chaired the central bank from 2008 to 2014, pointed to continuing expansion in the job market, a gross domestic product that is 10 percent greater than its pre-recession peak. In contrast, Europe’s GDP only recently returned to its pre-recession size. He termed the current economic expansion “a Rodney Dangerfield recovery” that “don’t get no respect.”…
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