Inventing the New Normal

I was in Tampa yesterday giving a talk at a business forum. Joining me on stage were Dennis Lockhart from the Federal Reserve and Thomas Kuhn from the Edison Electric Institute. Both excellent. We all took longer views of our current economic situation. Naturally, the audience wanted our predictions. What was striking was the underlying assumption behind most of the questions. In essence, people wanted to know when things will return to normal. After the event, Dennis Lockhart pulled me aside back stage and said, ” I don’t think people are seeing that there is no normal. We’re inventing a new normal.” Indeed. All part of the job for the RenGen.

More on the event here

Hat tip to University of Tampa for sponsoring the business forum, and especially Dr. Ron Vaughn, a true visionary and president of UT.