Tag: State Recession

By Shaun Boyd | CBS Colorado Mark Ferrandino, the executive director of the Governor's Office of State Planning and Budgeting, says the state has a 50-50 chance of going into a recession in 2026. Ferrandino says changes in tariffs, immigration policy and federal spending have created uncertainty for businesses and consumers. Colorado's effective tariff rate, he says, has increased from 3% in 2024 to 21%. Greg Sobetski, Colorado's chief economist, told lawmakers on the Joint Budget Committee (JBC) the full impact of higher tariffs has yet to hit.  "A lot of these impacts are being born at this point by firms because they can't pass that kind of price shock onto consumers," Sobetski said during the JBC meeting.  Sobetski says the state's economy is growing, but there are ...