Mayor says talks back on new Oakland A's ballpark

OAKLAND, Calif. - Talks have resumed between the city of Oakland and the Oakland A's for a new ballpark at the Charles P. Howard Terminal, Mayor Sheng Thao said at the end of the annual mayor's economic forecast Tuesday morning.

Thao was joined at the meeting by San Francisco Mayor London Breed and two economic forecasters, Ken Rosen of University of California of Berkeley and Baie Netzer of Bank of America.

Both Rosen and Bank of America are predicting a mild recession this year following interest rate increases by the Federal Reserve. The central bank has raised rates to lower inflation.

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Thao would not answer any questions following the meeting about the A's negotiations, but during the meeting she said of the negotiations, "It is looking good."

Any deal would have to be approved by the Oakland City Council. Thao was elected in November to replace Mayor Libby Schaaf, who termed out of office.

Rosen and Netzer expect inflation this year to fall but not to the Fed's preferred rate of 2 percent. Rosen said he expects inflation to fall to 4 percent while Bank of America's prediction was lower.

About 650 people attended the meeting, which was held at Marriott City Center in downtown Oakland.