Annual Economic
& Payments Forum

Mark your calendars for Forum 2022!
September 19-21, 2022
Onsite at the
Renaissance Legacy West Hotel
Plano, Texas

Forum News

Forum Economist Jason Schenker Balances COVID Risks with Economic ‘Upsides’

by Catalyst Corporate | Sep 21, 2021

While disruptive technologies have become commonplace in the financial landscape, the pace of change has quickened – a by-product of the COVID era. So says Jason Schenker, president of Prestige Economics and chairman of the Futurist Institute, who was among presenters during the first day of Catalyst Corporate’s annual Economic & Payments Forum.

More than 200 leaders from 126 credit unions registered for the two-day virtual event designed to provide actionable insights credit unions can use for future success. This year’s Forum theme – Embracing Transformation – underscores the rapid changes facing today’s financial services industry. Presenters covered timely subjects, such as the post-pandemic economy, faster payments trends and the rise of self-service members.

Schenker painted a picture of a strong, but uncertain, economy facing market forces twisted by housing and labor demand, while struggling against COVID headwinds. 

On the labor front, Schenker said, “The job market improved somewhat more than today’s headlines imply,” but also offered that pockets of weakness remain. He expects wages and salaries to rise “significantly.”

And while COVID variants continue to present risks, Schenker notes that the increasing vaccinations present an upside for tourism, travel, hospitality and leisure businesses.

Beyond COVID, Schenker believes U.S. economic growth is likely positive for 2021, 2022 and 2023, with low interest rates for years.

Additional coverage from the event will be featured in Connect over the next few weeks.

All presentations will be available on demand for those who have registered to attend the Economic & Payments Forum.

Details will be announced in next week’s edition of Connect regarding limited access to on demand presentations for those who did not register for the virtual event.