By Kenneth D. Thompson, WBA Board chair, president and CEO of Capitol Bank, Madison
We are closing out this calendar year with a better understanding of COVID-19 than we had at this time one year ago in 2020, however the ongoing pandemic casts a heightened degree of uncertainty onto predictions for the 2022 economy. As bankers, we are responsible for interpreting economic data and trends that will impact the financial health of our institutions, our customers, and our communities. To support us in this important aspect of our work, the Wisconsin Bankers Association and partners organize the Midwest Economic Forecast Forum annually. This year’s event is set to be an exciting opportunity to hear from nationally renowned experts as they present their perspectives on economic conditions that continue to be susceptible to the risks and challenges posed by the pandemic.
The forum will be held virtually on January 4, 2022 from 10:30 a.m.–noon CT. Individual and group rates will be available, giving banks the opportunity to invite their staff, business customers,
directors, and others to join in on the viewing as part of their group registration.
Headlining the event will be Federal Reserve Bank President Neel Kashkari, who will provide an economic outlook. Kashkari took office as president and chief executive officer of the Federal Reserve Bank of Minneapolis on January 1, 2016. In this role, he serves on the Federal Open Market Committee, bringing the Ninth District’s perspective to monetary policy discussions in Washington, D.C. In addition to his responsibilities as a monetary policymaker, Kashkari oversees all operations of the Bank, including supervision and regulation, treasury services, and
Presenting on the topic of “Economic Mega Trends 2022 and Beyond” will be David Kohl, Ph.D., professor emeritus, Virginia Tech. Kohl will cover questions such as: What are the global economic disruptors and power shifts? How will trade, geopolitics, supply chains, climate changes, and weather in extremes impact competitors? How will the stimulus package and Central Bank’s accommodative policy impact strategic positioning? What are some major mega trends on the horizon? What are the lead and lag indicators that need to be on the dashboards of decision makers?
With the level of uncertainty surrounding our economy moving forward, bankers should be especially interested in attending this engaging and informative event. The year ahead will no doubt be affected by excess liquidity in the banking system, supply chain delays/disruptions, labor shortages, and inflation fears. Bankers need to have a keen eye on how these key economic drivers will impact their banks and clientele. I look forward to the discussion on these topics at the Midwest Economic Forecast Forum and hope many of you will join us.