Burlington, VT (June 12, 2025) – Vermont business and policy leaders gathered last week at NBT Bank in Burlington for the latest installment of the Vermont Chamber’s Wellspring Forum series. The event featured a timely conversation with Ken Entenmann, the Senior Vice President, Chief Investment Officer, and Chief Economist at NBT Wealth Management, and Vermont Tax Commissioner Bill Shouldice, moderated by Vermont Chamber President, Amy Spear.

“Connecting business and policy leaders around timely economic issues is central to our mission,” said Spear. “In today’s climate of uncertainty, data-informed dialogue is essential. Ken and Commissioner Shouldice provided valuable insight into how national and state-level trends intersect—and how we can move forward with clarity and focus.”

Entenmann offered a national perspective, using his now-familiar “soft vs. hard” ice cream analogy to explore the tension between market sentiment and economic fundamentals. He shared analysis on GDP, labor markets, and inflation, noting that while investor caution remains, the hard data points to continued resilience in the U.S. economy.

“Uncertainty is the one constant in today’s economic climate,” said Entenmann. “But we can still find clarity by focusing on what the data tells us—not just the headlines. That’s what allows businesses, investors, and policymakers to make smart, long-term decisions.”

Commissioner Shouldice brought the conversation closer to home, outlining Vermont’s fiscal footing and how recent legislative choices are shaping the state’s economic outlook. With experience spanning both public service and private sector leadership, Shouldice emphasized the importance of affordability, long-term planning, and aligning policy with real-time data.

“We are at an economic crossroads,” Shouldice said. “Creating an environment that is sustainable, predictable, and affordable for all Vermonters should be our primary focus. Vermonters work hard, and the Scott administration is thinking about ways to keep money in their pockets.”

The Wellspring Forum series is supported by NBT Bank. The event’s name draws inspiration from former Governor James H. Douglas, who once said: “I am often reminded that the wellspring of Vermont liberty flows from Main Street, not State Street.”