August 18, 2022 – You’ll have to forgive Economist Alan Beaulieu for not being rattled over the latest breaking news and headlines related to the economy. His company, ITR Economics, has provided business leaders with economic information, insight, analysis, and strategy since 1948. ITR Economics is the oldest privately held, continuously operating economic research and consulting firm in the United States.
“Right now, there is a lot of fear in the news and in people’s minds, mostly caused by inflation and high prices that seem destined to go on and on and on,” Beaulieu said. “That is straight-line thinking that never leads to a proper view of the future. There are way too many nuances for a straight line to be the correct view.”
ITR’s outlook is one of disinflation (easing inflation) beginning perhaps as early as next quarter, with the potential for some deflation in select areas (e.g., oil prices and a few other commodities may edge lower next year). “This is not a period of runaway inflation with interest rates that will rival the early 1980s,” he said.
Beaulieu offered the latest forecast for 2022 and 2023, insights into some key economic indicators, and thoughts on how these trends are affecting hospitals and health systems when it comes to their workforces and operations.