While headlines continue to warn of economic uncertainty, one Louisiana economist says there’s more good news than most people realize.
Dr. Loren Scott, president of Loren C. Scott Associates says inflation has dropped dramatically since 2022; falling from 9% to around 3%. And with the Federal Reserve aiming to drive that number even lower, he says the trend is encouraging.
“The real obstacle right now is the President’s stance on tariffs,” Scott explains. “That’s the one monkey wrench that could slow things down.”
Still, he says the U.S. is far from recession territory.
“We’re more likely to see slow growth than a full economic downturn, and between the two, slow growth is the better option.”
Closer to home, Scott sees major opportunities on the horizon for Southeast Louisiana. He points to large-scale industrial investments in Plaquemines Parish that could create more than 11,000 jobs .
“There’s about $36 billion in estimated investment happening now.”
He says with another $40 billion dollars of investment waiting in the wings in St. James and Washington Parishes, that number will jump significantly.
“If and when those companies pull the trigger, the greater New Orleans area could see an economic boom.”
Scott says barring major fallout from tariffs, the broader financial picture is improving and the local outlook could be even brighter.
“Things aren’t just not as bad as they seem,” he says, “They’re actually on a pretty good trajectory.”