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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Broadly speaking, the economy is in a pretty good place. But it's no longer obvious what the next step should be. Now it gets a lot more complicated.
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We don't get away scot-free, but the underlying economy remains tough and sturdy.
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It does indicate that the second quarter was a disappointing quarter, ... Growth slowed sharply. Consumers became more cautious and our trade deficit ballooned. The economy was weighed down by higher energy prices.
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I thought oil would have been a concern since it hit $40 but the economy has digested it well,
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President Obama's reelection started the countdown for lawmakers to address the fiscal cliff and the statutory debt limit. Unless the President and House Republicans can agree on changes to current law, the U.S. economy will be in recession by spring.
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It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.
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So far, the surge in oil prices has yet to do any significant damage to the broader economy. We may see some softening in the consumer spending numbers soon, but unless that translates into a weaker job market, the economy should be able to weather these higher energy prices.
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Confidence is a key part of what's happening in the economy and the market. You shouldn't underestimate the importance of symbolic moves like these.
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It's similar to asking a big part of the labor force to leave. In today's economy where the job market is at capacity, asking people to leave means the economy will not grow as fast. In fact, there could be a very difficult adjustment over the first three to four years when this process is in full swing.
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It's almost certain that the Fed will be more upbeat about the economy.
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It looks like the mid-Atlantic weathered the hurricane well. Activity rebounded smartly. It does reinforce the view that the underlying economy remains strong in the mid-Atlantic and more broadly across the country.
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It means that they're going to be under a lot of financial pressure in the years ahead. And that's going to put pressure on the entire economy and on the political process.
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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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This suggests that the economy has largely shrugged off the ill effects of the hurricanes. Christmas will turn out better than expected.