A University of California–Irvine professor shared high financial hopes for Orange County and beyond during a March 25 presentation. During an event hosted by the Newport Beach Chamber of Commerce, economist Chris Schwarz forecasted the country bouncing back and returning to normalcy this year. “Things look really good for the economy,” he said. “I do think this is going to be a tremendous year.” Happier times will come as the result of people saving and having a pent-up demand for buying when lockdown restrictions ease, he said. The Federal Reserve (Fed) seems overly optimistic, Schwarz said, predicting the economy to grow by 6.5 percent—which hasn’t happened since 2004. “The Fed tends to be a little bit biased high,” Schwarz said. Even though unlikely, Schwarz said it’s possible since the nation is “incredibly overstimulated.” Impending Spending Spree? Many U.S. citizens have significantly increased their savings during the past year, since they haven’t been able to go on vacation or eat out like they normally …