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Greater San Marcos Partnership set to host annual Economic Outlook

Saturday, December 17, 2022

The Greater San Marcos Partnership is set to host its annual Economic Outlook at the beginning of 2023.

GSMP’s event will feature a panel discussion between economic experts who will discuss what the new year has in store for the Texas Innovation Corridor on Thursday, Jan. 5.

Roberto Coronado, senior vice president in charge of the Federal Reserve for the Dallas, San Antonio, and El Paso branches, will be the event’s presenting speaker. Coronado oversees law enforcement functions, government relations and economic education programs across all offices of the Eleventh Federal Reserve District, GSMP said.

Following Coronado, Alan Adelman, senior fund manager and research analyst for Frost, and Lincoln Talbert, Chief Financial Officer for Texas Regional Bank, will take part in a panel discussion moderated by GSMP President Jason Giulietti. Ahead of 2023, Adelman says he remains cautious about the upcoming year despite Texas boastfully having the second largest economy in the nation.

“From my vantage point — in the capital markets — liquidity is being constrained and we see that translate into higher interest rates,” Adelman said. “It suggests interest rates will continue to go up in the first half of next year.”

Adelman added that the economy could remain “somewhat robust” if energy prices came down.

“Manufacturing is going to slow somewhat from where it’s at right now,” he added. “It’s pivoting now to a recession that is likely in 2023. Whether that’s shallow, we don’t know, but it could be longer than what I would like.”

Talbert said market liquidity — the availability of liquid assets to the market — has been a “roller coaster ride.”

“With the response to the pandemic, and then what rates have done this year, and the effect on liquidity — it’s getting tighter and tighter,” Talbert said. “We must look at the economy that way, but you have to look at the amount of growth that has happened.”

Talbert said Texas Regional Bank has regulatory constraints on the amount and the type of lending they can do as a community bank.

“And, along with a lot of community banks, those buckets are getting full. So, we have to be more and more judicious on which projects to take on,” Talbert said. “The growth in your corridor has been driven by national and international companies, where their funding mechanisms are in the capital markets, bond markets … those sorts of things.”

GSMP said Adelman and Talbert will dive deeper into what’s in store for 2023, including supply chain issue during the panel discussion.

The Economic Outlook luncheon takes place at the City Of San Marcos Conference Center, 1001 E. McCarty Lane, from 11:30 a.m.-1:30 p.m. Tickets can be purchased at

San Marcos Record

(512) 392-2458
P.O. Box 1109, San Marcos, TX 78666