7th Annual Economic Forum 

  • October 12, 2023
  • Financial Partners Credit Union

The Curious Case of the Missing Recession:
FPCU’s 7th Annual Economic Forum Recap


CEO-President-of-Financial-Partners-Nader-Moghaddam-and-Dr-Christopher-Thornberg.pngFinancial Partners Credit Union recently hosted its 7th Annual Economic Forum, a thought-provoking event that brought together business leaders, community members, and financial experts to explore the economic landscape of Southern California. The forum featured a keynote address from renowned economist Dr. Christopher Thornberg, the founder of Beacon Economics. The event, presented in collaboration with the Costa Mesa and Downey Chambers of Commerce, shared invaluable insights into the economic landscape of Southern California, emphasizing the impact of skewed social narratives versus economic realities.
Skewed Social Narratives vs. Economic Realities 
One of the central themes of Dr. Thornberg's keynote address was the impact of skewed social narratives on  economic decision-making. He emphasized that despite the prevalence of narratives predicting an impending recession, the Southern California economy remains fundamentally strong. However, these narratives often lead to suboptimal policy choices. Thornberg's research and analysis sought to shed light on these narratives and their consequences.

Key Insights from Dr. ThornbergDr-Thornberg-presents-on-the-state-of-the-housing-economy.png
Throughout his presentation, Dr. Thornberg provided valuable insights into the factors shaping the Southern  California economy:

  • Fundamentally Strong Economy: Dr. Thornberg's analysis affirmed that the Southern California economy is fundamentally robust, dispelling the notion of an imminent recession.
  • Labor and Housing Challenges: He pointed out that the primary challenges facing the region are labor shortages and housing issues. The lack of new home development has contributed to stagnant growth in metropolitan areas.

Nader Moghaddam, President and CEO of Financial Partners Credit Union, expressed his excitement about the event's success. "We are thrilled Dr. Thornberg joined us once again and offered such enlightening perspectives on the regional economy. His insights left attendees better informed and equipped to understand the economic opportunities and challenges that lie ahead."
Continued Commitment to Financial Well-Being

As the discussions from the Economic Forum continue to resonate within the community, Financial Partners Credit Union remains steadfast in its commitment to fostering financial well-being and empowering individuals and businesses throughout Southern California.