Danny Court, principal and senior economist of Elliott D. Pollack & Company, shares his predictions for a recession and market performance in 2023 at the year-end Pinal Partnership breakfast Friday at Rawhide Western & Town Event Center in Chandler. Taylor Griffith/PinalCentral
By Taylor Griffith | Pinal Central
CHANDLER — According to the principal and senior economist of Elliott D. Pollack & Company, Danny Court, there is a 50% chance of a short and shallow recession for Pinal County in 2023 if the Federal Reserve continues to raise interest rates.
Court presented this prediction to an audience of over 100 county leaders and entrepreneurs Friday at the year-end Pinal Partnership breakfast held at Rawhide Western Town & Event Center.
“Are we (currently) in a recession? No, not yet,” he said. “But, probably soon.”
A disproportionately high volume of unfilled jobs in comparison to declining unemployment rates has created wage pressures on employers and has made things difficult as far as reducing chances of a recession.
