“On the Economic, Political and Business Climate”

Nine years ago, we cleared important hurdles that were necessary steps back toward "normalcy” after the Great Recession. As the economic expansion moved through its 11th year, it was derailed by a global pandemic not seen in a several generations. Two years into the post-pandemic recovery, the economy faces new set of challenges threatening a return to recession. In this session, Dr. Roger Tutterow provides a timely overview of global, national and regional economies.

Participants will consider the ongoing impacts of COVID-19 on the retail sector and real estate, prospects for resolution of supply chain and labor market dislocations, the recent upturn in inflation, ongoing changes in Federal Reserve policy changes including both an increasing of policy interest rates and the “unwinding” of bond purchases, performance of residential and non-residential real estate markets and the implication of recent demographic trends for the real estate industry and general business climate.

(1) Understand the impact of the pandemic recession on output, sales, employment and financial markets at both the national and local level.
(2)    Identify the three primary challenges facing economic prosperity (supply chain, labor shortages & elevated inflation) and how they are interrelated.
(3)    Consider how Federal Reserve after the 2008-9 and 2020 recession have contributed to economic recovery but also set the stage for a rekindling of inflation.
(4)    Review developments in the non-residential real estate market during and subsequent to the pandemic recession. Special emphasis is placed on the lodging, office, retail and industrial subsectors.
(5)    Appreciate how elevated and volatile materials prices, along with labor shortages, have contributed to reduced inventories of residential product.
(6)    Consider how housing appreciate and rising mortgage rates have combined to drive concerns over affordability in the residential market.
(7)    Access likely outcomes in the November election and consider implication for economic policy in 2023.

Roger Tutterow

Kennesaw State University

Appearances