During a packed session at the 2019 MACo Winter Conference, economist, and Chairman and Chief Executive Officer of Sage Policy Group, Inc., Anirban Basu, delivered a local, state, national, and global economic forecast.
Basu discussed positives such as an unprecedented 97 consecutive months of positive job growth in the United States, which has led to low unemployment and surging consumer confidence. But tempering that news was the recognition of regional disparity between Washington and Baltimore metro counties which are experiencing growth, and rural areas in the east and west, which are experiencing stagnation or decline.
Overall, Basu warned that poor outlooks for equity markets, bond markets, and commercial real estate could lead to an economic recession as soon as 2021.
The session was moderated by Talbot County Council Member Laura Price and held on Thursday, January 3, 2019.
The MACo Winter Conference was held January 2-4, 2019 at the Hyatt Regency in Cambridge, Maryland. This year’s theme was “Charting the Course.”