ITR Economist Lauren Saidel-Baker presented a keynote address on how to prepare for the challenges and ongoing uncertainties ahead in 2022. She reports the U.S. is through the worst of inflationary price hikes and to expect normalization in the New Year. Although economic and business metrics are looking positive, Saidel-Baker warns there’s little relief in sight on the challenging job market front for at least another nine months.
When is the next recession? Indicators point to 2025, says Saidel-Baker. She described it as a “pothole … we’ll get through it.” That’s five years of growth ahead. But hold on to your hats: ITR Economics has for a decade forecast a depression will arrive around 2030. As a nation we are well on track for this outcome, she said. One big reason: interest payments on national debt. No way current tax receipts can cover all the debt that has accrued under multiple administrations, Saidel-Baker said.