Economic Impact Still Unknown

Open Systems‘ Tim Roddy said the “economic thing really hasn’t hit yet.”

“We’re officially not in a recession,” he said. “Inflation is rearing its head, depending on what you’re buying. We had a huge disruption that was self-inflicted, shutting the economy down, screwed up the supply chains and all that. It’s for the most part resolved itself. And you’ve got world issues going on. We always do. But we haven’t actually hit a really true rough spot yet, and we don’t know if we will and we’re trying hard not to. A lot of these banks have been the ones that are not very well diversified. And the bank examiners and the Federal Reserve primarily are supposed to be looking at this stuff. And they’ve missed it on at least three occasions now. So we haven’t really hit it yet. That’s the part that worries me.”