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
anywhere depressed economies few good growing kansas pockets
It's better than it was but it's not as good as anywhere else. There are growing pockets of strength. Chicago, Kansas City, Minneapolis -- these are economies that had been severely depressed a few years ago and are now making their way back.
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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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The tightening of the job market, while very good for workers and much deserved, argues that workers should also expect to face higher interest rates and somewhat higher inflation.
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That's right where the Fed would like to see it, ... It would take a good year of that level of monthly growth before the job market tightens to the degree where inflation concerns would become more paramount.
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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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If illegal immigration came to a standstill, it would disrupt the economy. It would lead to higher prices for many goods and services, and some things literally would not get done. It would be a major adjustment for our economy, for sure.
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The job market is as good as it's been since 2000. Unemployment is 4.7 percent, and it is falling. Job growth is sturdy, and it is increasingly broad-based and across regions and occupations. In fact, this will be the first year that wage growth will begin to accelerate. It should be a good year for American students.
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In Florida, people are moving up the coast
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Inflation is still low and modest, but there are growing signs that it is starting to pick up.
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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 not a question of whether businesses can expand; it is a question of their willingness.
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The bloom is definitely off the housing rose. Housing peaked last summer and has been weakening ever since.
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The baby boom echo generation is now in their mid-teens, at a time when demand for electronics is very high. And they're old enough now to put pressure on their parents to ante up. I know that from personal experience.
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Once skittish businesses are turning into confident businesses that are willing and able to hire. I think the job market will improve further in the course of the coming year.