City Cast Denver
Is Denver Headed for a Recession?
May 7, 2025
In a compelling discussion, Greg Sobestki, Colorado's chief economist, shares his insights on the looming recession fears amid fluctuating tariffs. He breaks down how recent policy changes could ripple through the Mile High economy, affecting job growth and household finances. Greg explains the current pressures on families, leading to shifts in consumer behavior and spending habits. He also introduces the idea of 'gentle stocking' as residents brace for potential price hikes, offering tips for navigating economic uncertainty.
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Quick takeaways
- The uncertainty surrounding recent tariff decisions has led businesses in Denver to adopt cautious investment and hiring strategies, which may hinder economic growth.
- Despite minimal job growth and rising costs due to tariffs, consumer confidence remains stable as households manage their financial health amidst economic pressures.
Deep dives
Impact of Tariffs on Local Economy
Recent tariff decisions have created considerable uncertainty in the Denver economy, prompting concern among residents regarding potential recession. The chief economist pointed out that the back and forth regarding tariffs has led businesses to adopt a cautious approach, often postponing significant investments and hiring. This hesitance can hinder economic growth, as reduced consumer confidence and spending typically result in a contraction rather than expansion. While not currently forecasting a recession, the economist highlighted the pervasive atmosphere of uncertainty influencing decision-making across the market.
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