Inflation, the economy and pandemic-era obstacles remain at the forefront of firm leaders’ minds. Chief among a long list of concerns are billing rate increases as clients tighten their belts. How much are they willing to budget on legal spend?

“2023 is a year of uncertainty,” said Ken Van Winkle, the managing partner of Am Law 200 firm Lewis Roca Rothgerber Christie. “It would be easier if we called it a crash or a boom. It could break either way.”