Mark Zandi
Mark Zandi
Mark Zandi is chief economist of Moody's Analytics, where he directs economic research. He is co-founder of Economy.com, which was acquired by Moody's Analytics in 2005. Prior to founding Economy.com, Zandi was a regional economist at Chase Econometrics...
NationalityAmerican
ProfessionEconomist
CountryUnited States of America
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Given the recent surge in energy prices and higher medical costs, many will not be made whole by the increase. The increase is backwards looking; it represents inflation over the last year. In the near term, inflation will be greater.
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if the financial markets were reeling and the images from the Gulf were getting worse instead of better, if energy prices were rising instead of falling. But given the economic data and financial markets, there's no reason to make a symbolic move.
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If the Fed were going to pause in response to Katrina, it probably would be in November and December,
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Going forward it will be harder for them to maintain their spending - and their living standards.
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He said housing has turned increasingly speculative, and a correction in the market is coming, ... But he also said that the correction won't affect the great bulk of homeowners.
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Greenspan should weigh against asset markets in the good times -- just as he works to support them in the difficult times. He's been one-sided in his policies,
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Katrina is going to muck things up; it's just a question to what degree.
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I suspect this is a pause and we still see a resumption of top line growth and, ultimately, better hiring in tech.
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He doesn't have the wide range of experience Greenspan did going into the job, which has served Greenspan well.
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This suggests that the economy has largely shrugged off the ill effects of the hurricanes. Christmas will turn out better than expected.
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Ultimately, if you err on the side of being dovish it will only come with more pain from slower growth. The hit to growth would be more substantial from higher inflation than from interest rate hikes.
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The potential for even higher energy prices is a risk to the economic outlook. The economy has digested the higher prices gracefully so far. But it can get a bit of indigestion if prices move higher.
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We are a very low-cost area in a very high-cost region. Housing values have risen here, but not nearly as much as in other parts of the country.
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Workers are asking for bigger pay increases and they are getting them. The pendulum has swung decidedly in favor of workers.