So far, recovery from the Great Recession has been a slow slog. Reduced population mobility, strict credit standards for borrowers, cautious hiring, rising gasoline prices, the absence of a rebound in home-building and low confidence are only some of the factors holding the economy back. In the policy arena, bank credit is still gummed up with fears of new regulations and fiscal policy has turned decidedly restrictive. Nevertheless, recent developments in the U.S. economy have been encouraging and the eurozone has made significant progress dealing with its sovereign debt and banking issues. Housing prices appear to have turned the corner vis-à-vis strong investor demand and lean inventories of houses for sale, and employment growth strengthened in recent months.
Will Congress be able to deal with scheduled tax and spending deadlines set to take effect on Jan. 1? Will tensions over Iran continue to boost oil prices? Is China headed for a hard landing? Will the recovery be able to gain momentum in light of these uncertainties?
Join us for breakfast with economists Gerald J. Swanson, who holds the Thomas R. Brown Chair in Economic Education, and Marshall J. Vest, director of the Economic and Business Research Center, as they answer these questions and offer insights on what to expect for Arizona's economy during the remainder of 2012.