August 6, 2024
Click here to watch the full interview.
Summer is a time for vacations, relaxation and generally easy living. Unless you own or run a business, in which case, the summer is a time to take stock of the first half of the year and look ahead to what might happen in the second half.
Bankers have a good sense of how the year is going and how it might end. And few bankers pay as close attention to the ups and downs of the economy than Christopher Maher, the CEO of OceanFirst Financial, a director of the Federal Reserve Bank of Philadelphia and former chair of the New Jersey Bankers Association.
Maher recently spoke with NJBIZ about the state of the economy, where inflation and interest rates might be headed, and what businesses can expect for the remainder of 2024.
After the first half, the economy is in “reasonably good shape,” Maher said. “Fortunately, we haven’t seen any shocks one way or the other — a little concern about inflation continuing, although the more recent numbers seem to be a little better. Our customers are doing well. The shore economy seems to be dialed in for a pretty good summer. So everything’s gone reasonably well. We’re still apprehensive about making sure we get to some good outcomes by the end of the year, but so far so good.”