The U.S. national debt recently surpassed $40 trillion, raising questions about what its continued growth means for the economy and for businesses in Iowa. On this episode of the Iowa Economy Podcast, host Chris Conetzkey talks with two economists to break down the often abstract-feeling issue of the national debt and the tangible effects Iowa businesses may experience now and in the future as the number continues to rise.

On this episode:

• How the national debt affects Iowa: Iowa’s diversified but capital-intensive economy makes businesses, farmers, homeowners and local governments particularly sensitive to higher borrowing costs.

• The growing cost of servicing the debt: The federal deficit is running at roughly 6% of GDP, while net interest costs have risen above 3% of GDP, exceeding federal defense spending.

• Interest rates and business investment: Rising Treasury yields can put upward pressure on mortgage, auto loan and commercial borrowing costs, potentially affecting profitability and decisions about capital investment.

• Iowa’s exposure to federal spending and demographics: Iowa’s older-than-average population makes Social Security and health care particularly important, while potential federal spending reductions could affect agriculture, university research and other priorities.

Guests:

• Ryan Nunn, research director, The Budget Lab at Yale University

• Anne Villamil, research fellow in economics and professor, University of Iowa Tippie College of Business

Iowa’s mergers and acquisitions market is showing signs of building momentum, with more capital available and an aging generation of business owners, creating opportunities for buyers and sellers. A panel of M&A experts discuss what’s driving activity, which industries are attracting the most interest, what is influencing valuations and why preparation can make all the difference when it’s time to transition or sell a business.

On this episode:

• How a generation of aging business owners creates both dealflow opportunities and pressures on businesses.

• Which industries are driving M&A activity, which are lagging and what those indicators mean.

• A look into the strategy and focus of local M&A firms.

Guests:

• Kyle Hoekstra, partner, RSM

• Steve Jacobs, president, BCC Advisers

• Erin Mickels, principal, CLA

• Scott Sissel, partner, Sissel Law

• Mike Taylor, partner, Midwest Growth Partners

The challenging landscape facing Iowa's restaurant industry is shaped by rising costs, changing consumer habits and razor-thin profit margins. In this episode of the Iowa Economy Podcast, restaurant owners, industry experts, economists and commercial real estate leaders share with host Chris Conetzkey what's driving restaurant openings and closures, how operators are adapting and why restaurants remain an essential part of Iowa's economy and communities.

In this episode:

• How inflation, labor costs, real estate expenses and changing consumer expectations are reshaping the restaurant business.

• Why independent, full-service restaurants face different challenges than quick-service and fine dining establishments.

• Trends shaping the future of dining, from takeout and experiential dining to menu innovation, value and evolving consumer preferences.

Guests:

• Chris Diebel, founding partner of Bubba and local public affairs consultant

• Jessica Dunker, president and CEO of Iowa Restaurant Association

• Wini Moranville, longtime Des Moines food and restaurant writer, and author of Dining Well in Des Moines newsletter on Substack

• Chad Moutray, chief economist and senior vice president of industry, research and knowledge, National Restaurant Association

• Bill Wright, senior vice president, CBRE

The banking industry, known for valuing stability, has remained well-positioned in Iowa despite various economic headwinds that could tilt it off balance. On this episode of the Iowa Economy Podcast, host Chris Conetzkey talks with two banking leaders — one from Iowa, one national — about maintaining the foundations that keep banks financially strong while progressing and innovating in response to new and changing forces such as new technologies and consolidation trends.

In this episode:

The industry’s focus on growth through acquisitions and how that influences the future of banking.

The state of the agricultural economy and the differences between today’s farm challenges and the 1980s farm crisis.

The emerging competition for deposits from fintech companies, brokerage platforms and cryptocurrency-related products.

Guests:

Daniel Brown, senior director of banking and financial services research, American Bankers Association

Adam Gregg, president and CEO, Iowa Bankers Association

Not all economic issues are fast-moving, market-shifting events — some, like health care, can take years or longer for implications to materialize but then deliver a broader impact. On this episode of the Iowa Economy Podcast, public health economists and leaders join host Chris Conetzkey to share one issue or trend related to health that is affecting the state’s economy followed by discussion of contributing factors, downstream effects and what data is, or is not, available to better understand the economic implications of health on our business community.

In this episode:

• The unquantified role health plays in workers’ productivity and shaping the needs of the multi-generational workforce

• How disparities in access to care disproportionately affect health outcomes and costs in rural areas

• The factors leading to nursing home and hospital closures in Iowa and the effect on care and communities

• Iowa’s cigarette smoking rate and its economic effects

Guests:

• Andrea Harding, vice president of population health, MercyOne

• Jason Semprini, assistant professor, department of public health, Des Moines University Medicine and Health Sciences, Ph.D.

• Hari Sharma, associate professor, University of Iowa Department of Public Health, Ph.D.

Fuel price fluctuations stemming from the war in Iran are shaping near-term business strategy and consumer decision-making, according to industry leaders in trucking and convenience retail. This episode of the Iowa Economy Podcast, hosted by BPC President Chris Conetzkey explores how energy markets influence freight demand, purchasing behavior and broader economic expectations.

In this episode:

Cost pressures facing trucking firms and downstream industriesWhere there are signs of recovery after a multi-year freight recession

The relationship between oil prices and consumer mood

Long-term implications for logistics efficiency, pricing and customer expectations

GUESTS:

• Jeff Lenard, vice president of media and strategic communications, National Association of Convenience Stores

• Brenda Neville, president and CEO, Iowa Motor Truck Association

In this episode of the Iowa Economy Podcast, economist Bryce Kanago and Directors Council Executive Director Jerrica Marshall join host Chris Conetzkey to explore how the conflict involving Iran, shifting consumer behavior and workforce changes could influence inflation, interest rates and business activity. Marshall also shares insights from regional economic data and her experience as an adviser to the Federal Reserve Bank of Chicago.

In this episode:

How geopolitical conflict could disrupt energy markets and economic stability

The policy dilemma facing the Federal Reserve as inflation and slower growth collide

Growing financial pressure on lower- and middle-income households

The potential for artificial intelligence to change job availability and workforce training

GUESTS: 

Bryce Kanago, economics professor, University of Northern Iowa

Jerrica Marshall, executive director of The Directors Council and member of the Federal Reserve Bank of Chicago’s Advisory Council on Small Business, Community and Economic Development, Agriculture and Labor

In this episode of the Iowa Economy Podcast, economist Bryce Kanago and Directors Council Executive Director Jerrica Marshall join host Chris Conetzkey to explore how the conflict involving Iran, shifting consumer behavior and workforce changes could influence inflation, interest rates and business activity. Marshall also shares insights from regional economic data and her experience as an adviser to the Federal Reserve Bank of Chicago.

In this episode:

How geopolitical conflict could disrupt energy markets and economic stability

The policy dilemma facing the Federal Reserve as inflation and slower growth collide

Growing financial pressure on lower- and middle-income households

The potential for artificial intelligence to change job availability and workforce training

GUESTS: 

Bryce Kanago, economics professor, University of Northern Iowa

Jerrica Marshall, executive director of The Directors Council and member of the Federal Reserve Bank of Chicago’s Advisory Council on Small Business, Community and Economic Development, Agriculture and Labor

At the end of our Economic Forecast event, there are always questions and discussions that there isn’t time to cover. So, the day after the event, host Chris Conetzkey asked several of the panelists back along with an event attendee to hear what questions and thoughts lingered for them after hearing the panel’s insights.

In this episode:

The landscape of ongoing uncertainty facing Iowa businesses, including global trade dynamics and uneven consumer affordability

How health care, cancer rates and water quality are emerging as core economic and workforce issues

Iowa’s long-term challenges around workforce attraction, population growth and housing, and what it means for Iowa’s economic future

GUESTS: 

Robin Anderson - state chief economist and division administrator, research & policy division, Iowa Department of Revenue

Sarah Diehn, Business Record Editor

Eric Lohmeier - president, NCP

Joe Murphy, president, Iowa Business Council

Ahead of the Business Record’s annual Economic Forecast event, host Chris Conetzkey sits down with the event speakers to ask them for a glimpse at their projections for the year. From persistent uncertainty around trade, inflation and geopolitics to pockets of stability and modest growth, the guests share why 2026 may feel “steady but strained” — and what that means for Iowa businesses planning for the year.

In this episode:

What “steady but strained” conditions mean for business planning and workforce strategy

Outlooks for Iowa’s agricultural and manufacturing sectors after several challenging years

State revenue trends and broader policy factors influencing Iowa’s economic landscape in 2026

Why uncertainty has been a persistent theme in the post-pandemic economy

GUESTS: 

Robin Anderson - state chief economist and division administrator, research & policy division, Iowa Department of Revenue

Amy Friedrich - president of benefits and protection, Principal Financial Group

Ann Collins - executive vice president and CFO, EMC Insurance Cos.

Eric Lohmeier - president, NCP