Economic Forecast Breakfast 2026
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Last week, business and community leaders gathered at The Desmond Malvern for The Main Line Chamber of Commerce’s 2026 Economic Forecast Breakfast and Annual Meeting of The Main Line Chamber Foundation, coming together to hear insights on the national and regional economy.
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Chamber President and CEO Bernie Dagenais opened the program by welcoming attendees and highlighting the Chamber’s continued focus on advocacy, workforce development, and talent. He emphasized the importance of sustained investment in public transportation, noting the Chamber’s ongoing efforts to support SEPTA as a critical driver of Southeastern Pennsylvania’s economy.
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Bernie also shared updates on Chamber initiatives continuing in 2026, including leadership development programs, The Society of Professional Women, and the work of The Talent and Education Network to connect students with meaningful career pathways.
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The event also served as the Annual Meeting of The Main Line Chamber Foundation. Foundation Board Chair Maureen McAleer, WSFS Bank, provided an update on the Foundation’s impact.
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She shared that more than $750,000 has been awarded to date through the Emergency Responders Scholarship Fund, including $52,000 awarded last year to 42 recipients. She highlighted additional Foundation initiatives such as PA Free Enterprise Week, the Fund for Investing in Talent, and the annual Main Line Run, returning on September 13, 2026.
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Chris Handley, Vice President of Sales at Highmark Blue Shield and a member of the Chamber’s Board of Directors, shared a healthcare update and encouraged members to prioritize preventive care, emphasizing that wellness exams are one of the most impactful steps individuals can take.
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Chad Leyden, Market President at Truist and MLCC Board Member, spoke about the importance of the Economic Forecast Breakfast in helping business leaders make informed decisions throughout the year.
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The keynote address was delivered by Dr. Patrick Harker, Rowan Distinguished Professor at the University of Pennsylvania and former President and CEO of the Federal Reserve Bank of Philadelphia, who provided a thoughtful and nuanced look at today’s economy.
Dr. Harker described the current national picture as complex, noting strong GDP growth alongside a softening labor market, a dynamic he referred to as a “jobless boom.” He shared that inflation remains stubbornly above the Federal Reserve’s 2 percent target, driven in part by sticky service-sector costs, data disruptions from government shutdowns, and sharply higher tariffs. Key takeaways from his remarks included:
- Service-sector inflation remains elevated as wages and rents adjust slowly
- Tariff increases have raised costs for businesses and consumers, creating supply-side pressure
- Monetary policy alone cannot address challenges like housing shortages or workforce gaps
- The regional economy remains stable, supported by education and healthcare, though uncertainty persists
- Long-term economic resilience will require coordinated fiscal policy, public investment, and workforce development
Dr. Harker emphasized that while the Greater Philadelphia region benefits from strong anchor industries, continued collaboration and clear policy direction will be essential to sustaining growth.
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Thank you to our sponsors
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