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Treasurer Folwell to Discuss Impact of the Recession on NC

 

Treasurer Folwell to Discuss Impact

of the Recession on North Carolina

Ask Me Anything Conference Call

with Media is Scheduled for Today

 

(Raleigh, N.C.) – With the U.S. economy sliding into recession after two consecutive months of declining Gross Domestic Product, State Treasurer Dale R. Folwell, CPA, will detail what impact that could have on the state pension and health plans and credit ratings, and the effects the rest of North Carolina might expect, during his monthly Ask Me Anything conference call with reporters on Tuesday, Aug. 2

The Bureau of Economic Analysis reported that the GDP contracted .9% in the second quarter of 2022, following a steeper dip of 1.6% in the first quarter of the year. That news comes on top of other negative trends, including a 9.1% increase in inflation in June 2022 compared to June 2021 and three consecutive months during which consumer confidence declined, mostly due to the rising cost of gas, food and other commodities. Health care inflation has been lagging, coming in at 3.2% year over year. It is expected to accelerate next year as many medical service contracts are tied to the calendar year and the recent record-breaking inflation has not yet worked its way through the health care system.

Treasurer Folwell held his first Ask Me Anything teleconference in February 2017, fulfilling a 2016 campaign promise to be transparent and accessible. This will mark the 67th consecutive month he has offered media representatives the innovative opportunity to interview him on topics of their choosing. He is the only statewide elected official to hold free-wheeling monthly meetings of this nature with the press.

What:         Treasurer Folwell’s August “Ask Me Anything” conference call

When:        Tuesday, Aug. 2, at 10:30 a.m.

How:           1-877-336-1828

  Access Code: 8129850

RSVP:           Email: [email protected]

If you’d like to participate, please RSVP to [email protected] to ensure that time is allotted for your questions. Full audio will be made available after the call.