Engineering Influence from ACEC
News:Business News
At the 2023 Spring Convention and Legislative Summit, we sat down with keynote speaker Dr. Marci Rossell, former CNBC Chief Economist. We covered a wide range of issues, including how people's perceptions on the economy can actually result in that perception becoming a reality, as in the case of interest rates.
Snapshot of Dr. Rossell's Address:
Dr. Rossell told the convention audience that talk of a recession was premature and such fears will be history by the end of 2023.
“A recession requires a decline in economic activity spread across several sectors such as housing and unemployment, and that lasts six months,” she said. “In 2022, we had two consecutive negative quarters of GDPs (Gross Domestic Product) and the fears began.” She said consumer spending also must start to decline, but that also hasn’t happened.
“Has anyone flown this year? Were there a lot of empty seats? Of course not.”
The former host of the pre-market morning news show Squawk Box also emphasized that inflation is much more an economic negative than a recession, but even current inflationary impacts are starting to ease.
“Inflation peaked at 9 percent last year and the alarms went off,” she reflected. “The Feds raised interest rates 10 times over 18 months to address the increase. Since then, the rate of inflation has gone down about 1 percent each quarter. It should be back to its normal 2-3 percent range by the end of the year.”
She added that the economy today is vastly different than past years, such as with the U.S. becoming an oil producer now. “The result is that the global price of oil today has a net zero impact on our economy compared to 15 years ago.”
Dodge Data Chief Economist Richard Branch Shares His Latest Market Forecast
Why Your Bonus Incentive Program Doesn't Work and How to Fix It!
The Government Affairs Update for May 28, 2021
The Weekly Digest from ACEC
Government Affairs Update for May 21 - Infrastructure Update
ACEC Missouri's Mundell Shares the Member Organization's Campaign to Win Passage of a State Gas Tax Increase
The Private Markets Update with Erin McLaughlin
Government Affairs Update for May 14, 2021
Duty to Defend: What You Need to Know to Protect Your Firm
Kevin Artl Talks about how ACEC Illinois Defeated a Bill to Weaken the State's QBS Law
Beth Bauer, ACEC's new NAECE President on What's Ahead in 2021
The Government Affairs Update for 5-7-21
Florence Sterlin on Engaging with Your Remotely Working Team Members
Dodge Data CEO Dan McCarthy Discusses How Engineering Firms Can Use Market Data
Government Affairs Podcast for April 16, 2021
Meridian Associates' Doug Reed on Powerful Strategy Execution
Hinge Marketing's Karl Feldman Highlights the Key Characteristics of High-Growth Firms
Government Affairs Update for April 9, 2021
Infrastructure's Impact on Economic Development: A Closer Look at the ACEC Research Institute Studies
Government Affairs Update for April 2, 2021
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Børsen Morgenbriefing
Sarah Westall - Business Game Changers
Wall Street Breakfast
The Economics Show with Soumaya Keynes