ABA Chief Economist Previews What 2019 Will Bring for Banks

In an interview (beginning on page 7) in the Novantas Review — a publication by the consulting firm Novantas — ABA Chief Economist James Chessen offered his thoughts on the state of the banking industry and the U.S. economy, and the opportunities and challenges that 2019 will bring.

Chessen noted that from an economic perspective, “2019 will probably not be quite as strong as 2018, but I think there is still a lot of energy in this economy.” He added that interest rates will likely continue to rise, and that borrowers might exercise even greater caution, giving rising global economic uncertainties like Brexit and U.S. trade policy.

Turning to challenges facing the industry, Chessen flagged deposit gathering as a key concern for bankers. He also weighed in on potential legislative developments that could crop up in the year ahead and the ongoing challenge presented by fintech firms.

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About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and a senior editor at the American Bankers Association, where she oversees ABA Daily Newsbytes.