The upcoming elections are critical to the health of the business cycle. During the Bend Chamber’s Economic Forecast Breakfast on Oct. 20 at the Riverhouse on the Deschutes, you will be equipped for the impending changes ahead.
The Bend Metropolitan Statistical Area economy is soaring high and economic forecasters continue to predict that 2017 will actually be better than 2016 despite current hand-wringing over recent stats, said panelist Roger Lee, executive director of Economic Development for Central Oregon. Lee said 2018 will also be a growth year, but business owners will start to feel a turn in the business cycle that will fully manifest itself in 2019.
“With the Bend area as hot as it is economically, I think this will surprise some to hear that the cycle is further off,” Lee said. “Assuming that this is the case, how do business owners plan now to both capitalize on good economic times while preparing for a recession in two to three years?
When it comes to the upcoming election, Lee said it is the influence on monetary policy and interest rates, government spending (or not) that can have ripples, as opposed to who will occupy the White House. State elections will actually be much more impactful on the local economy, he said.
“Oregonians will call the shot on whether the state continues on its recent warpath (mandatory sick leave, minimum wage, etc.) with businesses or takes a breath and pushes back on Big Government,” Lee said.