This morning Dr. David E Altig, SVP and Director of Research at the Federal Reserve Bank of Atlanta was welcomed as the speaker at Chattanooga's 7th Annual Mayors' Business and Industry Appreciation Breakfast.

I will post more on Dr Altig's talk. He gave an informative and enjoyable presentation, emphasizing employment concerns.

One point he made was especially encouraging. He indicated that in his opinion "A double dip recession is off the table of possibilities."

His other main point was that employment losses can be attributed to US productivity gains. These gains were driven by necessity as businesses had to find new ways to work. But he feels that the productivity gains are permanent, and will make for a stronger US economy in the longer run.

Both County Mayor Claude Ramsey and Chattanooga City Mayor Ron Littlefield gave introductory remarks pointing to Chattanooga's progress in recent years.

Mayor Littlefield mentioned a time capsule that had been found during renovations at the City Hall. The period of the time capsule, the early 20th Century, had been a golden age in Chattanooga. The mayor said that Chattanooga is now experiencing a second golden age.

The breakfast was held at the Chattanoogan, and was very well attended. Apparently over 100 requests to attend had to be refused.

I will post more on the comments from Dr Altig. He offered a good many insights into the near term economy.

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