Colorado's business leaders have counted on Tucker Hart Adams being in the same place this time of year: up on stage delivering a blunt and often witty outlook for the job market, GDP and inflation.

But after offering her 30th annual economic forecast Tuesday, Adams announced she's calling it quits and giving up her gig as U.S. Bank's regional economist.

Adams is known for giving unvarnished opinions, being a bearer of bad news in a roomful of people who would rather hear the good, and often serving as a cautious voice that balances state boosters' tendency to look at the bright side. In recent years, she has been dubbed the "Duchess of Doom" because of her bleak views.

She's not always right. Other economists at times disagree. And guests at the yearly forecast breakfasts have lost their appetites. But her style is roundly respected.

"She has forced those of us who are prone to irrational exuberance to look critically and to ask really tough questions," said Tom Clark, head of the Metro Denver Economic Development Corp. "I won't say she keeps us honest, because we always try to be straightforward, but she has forced us to do harder thinking."

Adams has projected a recession for the past two years and said many of her expectations are playing out this year. "A recession is clearly very close, if in fact we're not already in one," she said during her speech.

Her final analysis sees declining housing prices, stagnant wages and rising interest rates as threats to consumer spending.

Patty Silverstein, the Development Research Partners economist, said Adams' forecasts are must-reads that will be missed. "She's always been willing to make the tough calls on the economy," she said.

Nancy McCallin said Adams speaks in plain English and describes how the economy affects ordinary people - and does so in entertaining fashion. And, she said, Adams can be optimistic when it's justified.

"She hasn't always been as pessimistic as you guys like to paint her," said McCallin, president of the Colorado Community College System who worked with Adams in the 1980s at United Banks.

Adams said that despite her concerns she's now more optimistic than others.

Adams, who earned a master's degree and a Ph.D. from the University of Colorado after graduating from Wellesley College, recalled her first economics class. "I couldn't understand why the government spends more money than it takes in every year - and a Ph.D. later, I'm still not sure I understand that," quipped Adams, who promised to continue doing economic impact studies.

But she said it's a good time to exit: "If it needed to be said, I'm sure I've said it."

James Paton and David Milstead take turns writing Up and Down 17th Street. Contact Paton at patonj@RockyMountainNews.com or 303-954-2544.