The Eller College of Management and J.P. Morgan Chase Host Annual Economic Outlook

Nov. 3, 2021

Arizona's Economy

After a strong summer, will growth decelerate? Join the Eller College’s George Hammond, director of the Economic and Business Research Center, and former Chase Chief Economist Anthony Chan on December 3, as they offer insights into the future for the local, state, national and global economies.

Arizona’s recovery from the pandemic gained significant momentum during the summer. Job gains surged, housing permit activity remained very strong and taxable sales remained on track for significant gains this year. The housing market grew even hotter during the summer, with low inventories, high construction materials prices and strong demand driving median home prices up by 30 percent or more in June. Federal fiscal stimulus is gradually dissipating, but income gains are likely to remain robust this year as the labor market continues to recover

While the state economy has recovered rapidly, major questions remain unanswered. What are the long-term economic consequences of the pandemic? Will Arizona experience a major increase in migrants from other states, as remote workers seek lower housing costs? What are the implications of the recent surge in inflation and how will the Federal Reserve respond? How will the stock market fare in the recovery?

Hammond brings a wealth of experience in state and local econometric forecasting and regional economic analysis, as well as, wide-ranging academic research interests to bear on his role as director of the Eller College’s Economic and Business Research Center. A specialist in econometric forecasting for more than 20 years, he has designed, built and used economic models to produce more than 100 forecasts for state and local economies and completed more than 50 regional economic studies on topics including economic and workforce development, energy forecasting and the impact of higher education on human capital accumulation.

Chan joined JPMorgan in mid-1994 and retired in May 2019. During his tenure, he addressed more than 100,000 clients each year and delivered presentations to many Central Banks around the world. Chan is often in media outlets such as The Wall Street Journal, Barron’s, The New York Times, The Washington Post, The Chicago Tribune, The Los Angeles Times and Investor’s Business Daily. He appears regularly on CNBC, CNN International, Fox Business News and CGTN and Chinese television. Currently, Chan is a member of the Blue-Chip Monthly Forecasting panel.

This year the Eller College Annual Economic Outlook is made possible through the generosity of JPMorgan Chase.

Additionally, JPMorgan Chase supports the award-winning website, the premier source for information on Arizona’s economy, which provides measures of the economy’s performance, analysis by the Eller College Economic and Business Research Center and links to important studies.

The Economic Outlook is free and open to the public. Register now.