Steve Forbes spoke with NBC17 Thursday during his visit to a two-day C.E.O. Forum at the Umstead Hotel.

Click the video to watch his answers to questions from NBC17 Anchor Donald Jones.

The forum is considered a premier event for business leaders to explore what can and is being done by North Carolina industry and the public and non profit sectors to navigate the global economic crisis and emerge stronger than ever when the economy recovers.

The keynote speaker will be Steve Forbes, Chairman and CEO of Forbes and editor-in-chief of Forbes Magazine. During a reception for the event, he gave his thoughts on the current state of the economy.

"We're certainly off the lows of the last fall and early march in terms of the stock market and the credit system is beginning to thaw out. We still have a ways to go in the credit system I think the Federal Reserve has been dragging its feet instead of being more aggressive in getting the credit flows flowing," Forbes said.

When things start to improve, he said expect to see it in a few specific areas first.

"You're going to see it in high technology, you're going to also see it in terms of consumers starting to buy again and you'll also start to see a little more activity in the housing market," Forbes said.

If you're looking to actively invest, Forbes says go for mutual funds.

"If you don't need the money right away, this is a time to put a certain amount in each month, in mutual funds, especially those that have low expenses and do it systematically. There will be plenty of ups and downs over the next few months, but over the next ten years you're going to do just fine," Forbes explained.

Forbes' insight will be heard by top business leaders in the state including Progress Energy- Carolinas CEO Lloyd Yates.

"I think North Carolina has proven over a long period of time that it is very adaptable and I think we will re-invent ourselves," Yates said.

The co-chairs of the 2009 CEO forum, President & CEO of RDA Rick Deckelbaum and Managing Partner of Summit Performance Systems Brian Kinahan, said the goal of the forum is to bring business leaders together and help North Carolina's businesses come out of this recession stronger than before.

"I wanted to introduce a lot of the state's leaders and give them a forum to work together," Deckelbaum said.

"That'll help our community and all of our companies and our citizens," Kinahan said.