Commerce Bank economist discusses Trump tariffs, economic outlook

Author: David Dorsey, Gulfshore Business
Published: Updated:

Scott Colbert compared the U.S. economy to a Tom Cruise movie. Things start out exciting, then something tragic happens, putting Cruise’s character, whether it be a fighter pilot, bartender or sports agent, into purgatory — before he bounces back.

Colbert, chief economist for Commerce Bank and Trust, visited Naples this week from his home in St. Louis, where he works for one of the nation’s top 50 banks, one with $32 billion in assets, $25.3 billion in deposits and $74.8 billion in total trust assets. Colbert has a degree in nuclear engineering from the University of Cincinnati and a Masters of Business Administration from Xavier University.

“The economy basically runs on the same cycle,” Colbert said as compared to the plots of, for example, Top Gun or Top Gun: Maverick. “We’re in the middle of the movie somewhere, where Goose gets ejected. And Tom is very upset about the whole thing. Or Jon Hamm pulls him from his starting slot as a super fighter pilot. But yet he’ll fight his way back and continue on for the back half of the movie.”

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