Reaser Tells BOA Clients To Expect Economic Leap

Lynn Reaser, a professor of economics and the chief economist and senior market strategist for Banc of America Capital Management, painted a very upbeat picture on Oct. 8 for a select group of high-net-worth clients at Rogers’ Embassy Suites Hotel. Reaser, whose division is the primary investment managment group at Bank of America Corp., addressed about 30 of BOA’s private banking cliets at breakfast.r

The private bank has a new office in Pinnacle Tower II (the south one) at Rogers Pinnacle Point.r

Reaser — a frequent expert guest on CNBC, NBC and Bloomberg Television — said Northwest Arkansas’ future in particular looks bright.r

“The Fayetteville MSA will be one of the leading growth markets in the country,” Reaser said. “The first general economic expansion that we’re seeing should help Wal-Mart specifically … Consumer confidence and personal income growth should impact overall spending with the result of Christmas and holiday sales that should be quite promising.r

“The best sign we’ve seen overall is that 57,000 jobs were added in September nationwide. That follows seven months of declines and suggests we’re finally ending the job of recovery and entering a patter of sustained expansion.”r

Reaser noted Northwest Arkansas had 2 percent job growth year-over-year compared with less than a 1 percent improvement for the state overall.r