By KEVIN COSTELLOE
The U.S. economy will likely see growth slowing to below 2% over the longer term while inflation will stay within a range of 3% and 4%, according to economists at California State University, Fullerton in their annual Spring Economic Forecast.
The economists, led by Anil Puri and Mira Farka, called it a “stagflation-like” environment. Stagflation, a term coined in the 1970s, denotes slower economic growth, high unemployment and climbing inflation.
Still the economists said the U.S. economy is “humming along so far this year.”
They said that similar to California as a whole “Orange County has also been on a slower growth path since the middle of 2023.”
Anil Puri is director of the university’s Woods Center for Economic Analysis and Forecasting and Farka is the center’s co-director.
