$2B bank CEO is blunt: The recession is here — and might stick around through 2024

Real estate developer, entrepreneur and philanthropist Eric Hovde, who ran for U.S. Senate as a Republican in Wisconsin in 2012, has a wide view of the national economy as chair and CEO of Sunwest Bank. The Sandy, Utah-based bank, which recently opened an office in Sarasota, part of an aggressive expansion effort in the Sunshine State, had $2.23 billion in assets through March 31.

In late July Hovde, through the bank, released a six-minute video on the potential of a recession, if there already is one and what the ramifications of it will be. Excerpts of the video include: