Business leaders gained valuable insights about Pennsylvania and the nation’s economic future and inspirational advice to help take their companies to the next level at the PA Chamber and PA Bankers Association’s 10th Annual Economic Forecast and Business Leadership Summit held last Thursday.
The milestone event welcomed David Wigglesworth of Piper Sandler’s economic research team for a state and national economic overview that provided a data-driven prognostication of what to expect in the months ahead. He predicted that the economy will face a recession this year (likely in the fourth quarter) based on three factors – 1. The strength of the U.S. dollar; 2. The fact that more than 100 central banks around the world are raising their interest rates in response to the strength of the dollar; and 3. High oil, or input, prices. In addition, the Federal Reserve’s actions to raise interest rates have contributed to a likely forthcoming recession.
Following the economic overview, attendees heard an engaging and informative keynote presentation from former Disney executive Doug Lipp who focused on how an organization’s core values, leadership, teamwork and innovation can drive success. He shared Disney-inspired lessons that can help companies usher in exciting new opportunities and tap into new markets, as well as attract and retain the best talent.
State Sen. Ryan Aument, R-Lancaster, who recently was elected the Senate Republican Whip, provided a legislative update and overview on his caucus’s policy priorities for the two-year session that began in January – including pro-growth tax reform and workforce development initiatives. Aument recently introduced legislation to expedite the Corporate Net Income tax phase-down.
The PA Chamber and PA Bankers Association thanks Exclusive Platinum Sponsor RKL for its continued support of this yearly event; as well as Breakfast Sponsor APPI Energy; Silver Sponsors Capital Blue Cross and Orrstown Bank; Bronze Sponsors Benecon, Griffin Financial Group, PA Bankers Services Corporation, Piper Sandler and Stevens & Lee; and WiFi Sponsor The Bonadio Group.