Breakfast with the Economists 2017 Presentation

Breakfast with the Economists – Mid-Year Economic Outlook 2017

George W. Hammond, Ph.D., Director and Research Professor, Eller Economic and Business Research Center, and Gary Wagner, Ph.D., Vice President and Senior Regional Officer, Federal Reserve Bank of Cleveland,serve up analysis and insights on the economic outlook for the Arizona and Tucson economies, as well as the nation…

Tucson’s job growth accelerated last year, hitting its fastest pace in four years. While that is great news, overall economic gains remain slow compared to the state and the nation. Nationally, uncertainty has ratcheted up in recent months, with the new federal administration taking strong stands on trade, immigration, taxes, and regulatory policy. In addition, the state of Arizona has begun a series of substantial increases in the minimum wage. What do these changes mean for national, state, and local growth? 

The U.S. dollar rocketed up against the Mexican peso after the election, hitting a new all-time high. The strong dollar has contributed to reduced state merchandise exports and perhaps less Mexican visitor spending in Arizona. Where is the U.S. dollar/peso exchange rate headed next and what will it mean for our economy? 

Housing construction rebounded last year, driven in part by modest population gains. Housing prices continued to rise at a solid pace. Will Tucson population growth accelerate next year? Or is reduced residential mobility here to stay? 

The Federal Reserve has begun to raise interest rates. Where are rates headed next and what will that mean for the economy and your business? 

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