VERTEX’s CEO Bill McConnell covers the state of the U.S. economy in 2022, along with the U.S. construction industry and U.S. contract surety industry.
2022 has been a highly volatile year for the U.S. economy as the population braces for the looming recession. The perfect storm of recessionary indicators is in place. The yield curve inverted. The equities market dropped by over 20 percent into bear territory. The FOMC initiated its QT program and scheduled a series of rate hikes. 30-year mortgage rates are at a 11+ year high. Inflation is at a near 40+ year high. GDP in Q1 was negative. Labor force participation is at a near 45+ year low. Gas prices at the pump are at an all-time high and oil inventories are at an 8-year low. Supply chain issues due to COVID-2019 continue to persist. Geopolitical issues are on the rise due to Russia’s attack of Ukraine. All the while, the unemployment rate remains at a near 50+ year low and the construction industry is coming off two of its greatest growth years.
As a successful strategist and expert in construction and business, Bill routinely speaks at industry events and for company leadership teams. If you are interested in scheduling a live webinar presentation, please contact us.
To learn more about VERTEX’s economic analysis or our company services, call 888.298.5162 or submit an inquiry.
The Author
Bill McConnell
PE, JD, MSCE, MBA
Chairman of the Board
Bill McConnell is a co-founder and Chairman of The Vertex Companies, LLC. Bill is a top expert witness for construction disputes as he has testified nearly 250 times, most notably for quantum/damages, scheduling, allocation, termination, and standard of care opinions. As the Chairman of VERTEX, Bill sets the strategy for VERTEX’s future.