Economic Update Predicts Challenges Ahead Despite a solid footing heading into the next economic cycle—low interest rates, a hot housing market, and strong GDP growth— there are some looming signs of a recession on the horizon that shouldn’t be ignored, says a financial expert. “As good as prosperity is now and will be in the near future, there’s 100 percent certainty that we will fail at keeping this success going,” University of California–Irvine (UCI) finance professor Christopher Schwarz said during a June 10 virtual presentation. “The question is, how are we going to fail?” Schwarz’s presentation was made in conjunction with the Newport Beach Chamber of Commerce, the Greater Irvine Chamber of Commerce, UCI’s Paul Merage School of Business, and 26 other cosponsoring chambers of commerce.