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The uncertain business of economic forecasting

Mike Switzer, host of the SC Business Review

It’s early in the year still, but as was the case last year, economic forecasts continue to be upended. The latest example just recently when a national jobs report came in stronger than expected and dampened prospects for interest rate cuts. Today we’ll check in with one of our resident economists to get his take. Mike Switzer interviews Frank Hefner, director of the Office of Economic Analysis and a professor of economics at the College of Charleston.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.