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GREENSBORO COLLEGE ECONOMIST CALLS DROP IN CONSUMER CONFIDENCE “MUCH ADO ABOUT NOTHING”

by YES! Weekly staff

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GREENSBORO COLLEGE ECONOMIST CALLS DROP IN CONSUMER CONFIDENCE “MUCH ADO ABOUT NOTHING”

The sharp drop in consumer confidence this month has been driven by shortsighted fear about stock-market collapse, Greensboro College economist William K. MacReynolds said today.

Those data, released today, show that the Consumer Confidence Index declined from 97.8 in January to 92.2 in February.

“It’s much ado about nothing,” Mac- Reynolds said. “Stocks prices rise and fall. It’s what they do.”

The economy’s underlying strength, MacReynolds said, should suffice to provide at least 2 percent growth this year.

He acknowledged that there are pockets of concern around the nation because of falling oil prices, but he added that those same decreases have led to falling gasoline prices: “Consumers are quite well off as a result.”

The latest stock-market vagaries, he said, do not presage a recession, declined as two consecutive quarters of shrinkage of the economy.

“It takes much more than what has transpired recently to move into recession,” he said.

MacReynolds is founding dean of the School of Business and director of the N.C. Center for Economic Prosperity at Greensboro College.

The N.C. Center for Economic Prosperity was founded at Greensboro College in 2015 to gather, analyze and comment on economic data and policies that impact North Carolinians.

MacReynolds has served as a senior economist for the Federal Trade Commission and director of economic forecasting for the U.S. Chamber of Commerce.

He holds a B.S. in agricultural economics from the University of California at Berkeley and a Ph.D. in economics from the University of Southern California. He joined the college faculty full-time in 2014 after having taught part-time here since 2010.

Greensboro College provides a liberalarts education grounded in the traditions of the United Methodist Church and fosters the intellectual, social, and, spiritual development of all students while supporting their individual needs.

WEST SALEM PUBLIC HOUSE COMING TO WINSTON

West Salem Public House is a new beer and wine serving establishment in the Pub tradition. Located in the West Salem Historic District of Winston-Salem. Proprietors Austin Pfeiffer, Hayes Wauford, and Travis Lintner hope the West Salem Public House can be a community third space where ideas are discussed and friendships are forged.

While the name recalls the tranquil hospitality of a British Pub, the WS Public House will not be a replica. Its design is modern and American. The renovations will however be true to the historic exterior of the building. The Public House is centrally located at 400 S Green Street. It sits at the pinnacle of Wachovia Street in West Salem and overlooks downtown, the Brookstown Inn area and east towards Ardmore. Its location is a hub where the Washington Park, Old Salem, Ardmore, West End, and Downtown neighborhoods all intersect. The Public House will be open in the evening with hopes of becoming community fixture for post-work gathering. Renovations should begin in the end of February with hopes of opening June 3rd.

The menu will feature a variety of wines and mid-range craft beers ($3-5) with and emphasis on North Carolina products. The venture is a local initiative between friends. All three owners are long-time Winston-Salem residents. Hayes Wauford is Vice-President of Wilson-Covington, a construction company specializing in historic restoration. Travis Lintner is an industrial designer with his Winston- Salem based firm Authentic Design. Austin Pfeiffer has worked in a number of Winston-Salem establishments and has been a part of the West Salem community as a pastor and community garden manager.

The unique niche of the WS Public House is to be a sort of quiet evening gathering space not unlike a café, but with a design that encourages interaction rather than isolation. The interior will feature community tables and club chairs. In addition to beer and wine, they will have pour-over coffee, and local milk and cookies. You can see the renovation progress on Instagram by following @ WSpublichouse. !

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