On March 3rd, the Elmhurst Chamber of Commerce and Industry and the Westmont Chamber of Commerce and Tourism Bureau hosted the 19th Annual Multi-Chamber Economic Outlook, featuring Keynote speaker Anna Paulson, Executive Vice President and Director of Research of the Federal Reserve Bank of Chicago. Ms. Paulson highlighted the impact the Coronavirus (COVID-19) pandemic is having on the American economy. Ms. Paulson also shared data and insights for the economy moving forward.
Key Takeaways:
· The economy is expected to rebound in 2021
· GDP is expected to grow by 6% over time
· COVID, long-term unemployment, disparate labor market, share of households experiencing food shortages remain risks to the economy
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