The keynote speaker at the Mainline Chamber of Commerce’s annual Economic Forecast breakfast expressed “optimism” about the economy in 2023, noting signs that “inflation is cooling.”
Patrick Harker, president of the Federal Reserve Bank of Philadelphia told the nearly 150 attendees at the Friday, Jan. 13 event that “the national economy remains relatively healthy overall.”
Harker told attendees the Federal Reserve was “committed to bringing inflation back down to 2%,” according to a press release. He also delivered a comment about “raising interest rates at a slower pace than last year, likely at 25 basis points.” Harker also spoke on low unemployment rate in the Philadelphia metro area — which is currently less than 4%.
About 150 attended the Jan. 13 Economic Forecast Breakfast hosted by the Main Line Chamber of Commerce. (PHOTO BY TODD PHOTOGRAPHY COURTESY MAIN LINE CHAMBER)
The chamber’s annual event was held at The Desmond Hotel in Malvern, and also served the annual meeting of The Main Line Chamber Foundation. The Main Line Chamber Foundation has awarded more than $600,000 to date in scholarships to emergency responders in the area.
Benjamin Schmid, a volunteer firefighter with the Penn Wynne Fire Co. and recipient of the Sean DeMuynck Memorial Scholarship presented by Walsh & Nicholson Financial Group, also spoke during the event.
The Main Line Chamber of Commerce has 850 member business members throughout Delaware, Chester, Montgomery and Philadelphia counties. For more information visit www.mlcc.org.