Gavin Newsom: “Economists, not only state economists, independent…”

“The May revise will reflect a downgrade in economic outlook in this state. I have been meeting consistently in the last few weeks with Economists, not only state economists, independent economists, universally they have significantly downgraded the GDP projections for the state of California next year. have increased as a consequence of this toxic uncertainty. The likelihood that our unemployment rate will go up, not down, and that the environment will precipitate in higher inflation.” (32:43–32:58)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.