By Kyle Backer | AZ Big Media
Arizona-based economist Elliott Pollack, CEO of Elliott D. Pollack & Company, spoke to a crowd of commercial real estate professionals on Friday, Jan. 14 at the IREM CCIM Economic Forecast. Pollack covered a wide range of topics, from supply chain issues to inflation.
“The economy continues to recover at a rapid rate,” Pollacks says. “But the recovery will be erratic and there will be some glitches along the way.”
Pollack notes that the status quo is unlike a typical business cycle and shouldn’t be compared to one. A recession was not induced by the Federal Reserve because the economy needed to be slowed, but because the government chose to shut down the economy almost completely. This affected the service industry hardest and had a ripple effect that disrupted other sectors.