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economic forecast

Apr 30, 2025

Tariffs spark uncertainty for Virginia port and shippers

Shipping and logistics companies and related maritime industries worry about the impacts of President Trump's global trade war and international tariffs. In a worst-case scenario, long-term tariffs on imports and exports would have a cascading effect, accumulating downstream across the economy, economists say.

Apr 25, 2025

Wall Street’s rally fades as more CEOs talk about uncertainty because of Trump’s trade war

Wall Street’s rally stalls as macroeconomic uncertainty, weak forecasts, and shifting tariffs weigh on stocks. Big Tech helps limit broader losses.

Apr 23, 2025

Tariff turmoil: How Tesla and other companies are dealing with the uncertainty of the trade war

Uncertain tariffs and trade tensions challenge Tesla, Akzo Nobel, and Boston Scientific as they navigate rising costs and shifting global markets.

RiverFront Investment Group's Kevin Nicholson (L) and Federal Reserve Bank of Richmond President and CEO Tom Barkin spoke about economic conditions during the RVA Big Dipper Innovation Summit in Richmond on April 22, 2025. Photo courtesy JMI.
Apr 22, 2025

Tariffs, policy shifts cloud economic outlook, Barkin says

Richmond Fed President Tom Barkin says U.S. economy looks solid by data, but tariff policies and uncertainty are clouding forecasts and business confidence.

Feb 11, 2025

Va. economic outlook is positive, says Weldon Cooper Center forecast

Virginia’s long-term economic outlook is positive, according to the University of Virginia’s Weldon Cooper Center for Public Service’s inaugural economic forecast released Monday. Weldon Cooper economists predict Virginia’s gross domestic product in 2025 will increase 2.4%, outpacing national GDP growth. The U.S. GDP’s growth is expected to be 1.9% this year, slower t[...]

Jan 30, 2025

White House decisions weigh heavily on Va., Hampton Roads economies, experts say

While federal workers ponder taking a buyout offer from President Donald Trump and a now-rescinded federal funding freeze memo caused confusion and worry over the status of major economic development projects in Virginia, economists at Old Dominion University say uncertainty in Washington, D.C., is the major factor affecting the state’s and Hampton Roads‘ economic futures […]

A bespectacled man in a white button down shirt with a red tie looks offscreen.
Jan 9, 2025

Here’s what Richmond Fed chief forecasts for 2025 economy

The economic forecast for 2025 is sunny, with a high chance of business optimism, according to Federal Reserve Bank of Richmond President and CEO Tom Barkin, who spoke Thursday during the virtual 2025 Financial Forecast held by the Virginia Bankers Association and the Virginia Chamber of Commerce. “I went back this morning and looked at […]

Feb 28, 2024

How’s your confidence?

Business always has its up and downs. We’ve all been through more than a few. As au courant as the dot-com economy might seem, that bubble floated skyward decades ago, bursting in 2002. It wasn’t just a small dip. Between 1995 and its peak in March 2000, the tech stock-heavy Nasdaq index rose by 800%, […]

Feb 28, 2024

Financial Services: Signs of health

What’s that we hear? Is the economy growing healthier? It’s getting stronger for sure, Federal Reserve Bank of Richmond President and CEO Tom Barkin said in January during the 2024 Financial Forecast event co-hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Inflation was 3.4% in December 2023, inching closer […]

Feb 16, 2024

Alexandria arena proposal economic impact report released

An economic and fiscal impact analysis released Friday by the Alexandria Economic Development Partnership forecasts that the proposed Washington Capitals and Wizards arena in Alexandria could generate up to $7.96 billion in annual economic output for the state. Additionally, the report says the arena could be completed as soon as 2028 if its construction schedule […]

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