Baltimore economist Anirban Basu said he is optimistic about the economy in 2018, but suggested a breaking point may be coming in the years ahead.
Maryland has added jobs at a rate that outpaced all but six states, businesses are growing, and consumer confidence is high.
“Time is on our side,” Basu said, “at least in the near term.”
The Sage Policy Group CEO pointed to possible real estate and stock market bubbles, lagging wages and rising business costs associated with employee benefits and health care as factors that could slow growth in 2020 and beyond.
As consumer confidence rises, people are spending more and saving less, pushing the consumer savings rate to a...