Chicago Fed Official Cautiously Optimistic About Industry

LAS VEGAS ― The auto finance industry is strong, but there’s room for improvement, Chicago Federal Reserve Senior Economist Bill Strauss told attendees at the 2013 Auto Finance Summit.

Activity in the third quarter was “probably positive, but not setting the world on fire,” Strauss

said.

He also talked about the labor market and the economy as a whole, pointing out that recent

college graduates are working jobs as baristas, while less skilled workers are having trouble finding jobs at all.

“We’re going to recognize that we’re still years away from having this labor market move into a more normal position.”