Residents at K-B House are accustomed to highly sought-after speakers and entertainers visiting their community. A discussion about the 2025 economy with Carl Tannenbaum, chief economist for the prestigious Northern Trust Bank, was no exception as residents and guests recently packed the large community room to hear him speak and ask questions.
Tannenbaum did not disappoint his audience when he shared his perspective with wisdom and humor about three key 2025 economic indicators. Attendees were enthralled with his viewpoint and generously peppered him with intelligent, thought-provoking questions.
As one K-B resident said, “I am so thrilled that K-B House brings these amazing, smart speakers to us. It keeps us up to date with the world and provokes great discussions with my friends.”
Topics discussed were:
Tariffs usually incite retaliation. Tariffs are not paid by the receiving country, they are paid by domestic companies receiving the goods and passed along to the consumer. However, tariffs also encourage spending on domestic goods, generate a new revenue stream for the federal government, and can preserve jobs in key sectors.
Immigration is needed since young adults are opting not to have children or have them later in life. Immigration can boost national productivity and output. With our aging population and declining birth rate, there is a greater need for immigrants to fill the roles of caring for the elderly, among other services. Traditionally, immigrants are innovators and create new businesses.
Technology is loaded with opportunities and challenges, but one thing is for sure: AI is here to stay. With it is the rise of product and market innovation. However, the regulation of the new developments could be problematic, raising the chance for greater cybercrime and scams. However, technology is playing an enormous role in the current and future of the healthcare system.
Prior to joining Northern Trust, Carl Tannenbaum led a team at the Federal Reserve Bank of Chicago to analyze financial risks, its implications for the broad economy and policy choices to address it during the 2008 financial crisis. Carl is a frequent speaker on national media, and advisor to federal officials.
King Bruwaert House, long known for its educated and sophisticated culture and residents, is embarking on a renaissance in every area of the community with significant upgrades for independent, assisted and health care residents.
