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Local financial experts predict the economic outlook for 2023

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piggy-bank-970340_960_720 (1).jpg

When it came down to the economy, Americans went through a lot in 2022, starting with record high inflation. Also, the price of gas skyrocketed, grocery prices went up, rent went up, interest rates went up and beyond.

There were fears of a recession, and it was the first year without many of the temporary pandemic-related protections, such as increased unemployment benefits, or the boosted child tax credit.

So what's in store for our wallets, in 2023?

Each year, Baldwin Wallace University convenes a panel of experts to gaze deep into their crystal balls to tell us about the next year's economic outlook. It's called the Economic Insights Summit - happening tomorrow starting at 5:30 p.m. at BW's Center for Innovation & Growth in Berea.

To tell us about the year ahead, we've invited some of the panelists and other economic experts to start the "Sound of Ideas."

Also this hour, we'll talk to theater owners and Ideastream's arts reporter, Kabir Bhatia, about the recent closures of some movie theaters around town. What's causing these closures and how have our movie watching habits changed?

-Michael Patrick Weidokal, Executive Director, ISA
-Kevin Jacques, Ph.D., Chair, finance and analytics & Professor, Baldwin Wallace University
-Jacob Duritsky, Vice President, Strategy & Research, Team NEO
-Kabir Bhatia, Senior Reporter, Ideastream Public Media
-John Ewing, Cinematheque Director, Cleveland Institute of Art
-Jon Forman, President, Cleveland Cinemas

Rachel is the Supervising Producer for Ideastream Public Media’s morning public affairs show, the “Sound of Ideas.”