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
bad broader bubble calamity creating credit financial great hard housing loans market millions mortgage paved problem recession
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
break expect flat job jog market tech throughout
The tech job market was flat on its back throughout most of the decade. It's now back on its feet. I expect it to break into a jog this year.
across loans markets
Most of the loans are concentrated in the most juiced-up markets across the country.
attach fed finance high housing markets next problem reasonably test
I would attach a reasonably high probability that there will be a problem in the housing or finance markets that will test the next Fed chairman.
growth job market tech until year
This should be a year where the tech market stabilizes but I don't see job growth until 2004.
coast confident due energy expansion gulf higher impact indication job market outside remain
There is no indication that the job market outside of the impacted Gulf Coast has skipped a beat. The hurricanes are having an impact due to the higher energy prices, but I think we can be confident the expansion will remain on track.
concerns degree fed good growth inflation job level market year
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.
adjustment asking difficult economy economy-and-economics force four full grow job labor leave market means people process similar three
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.
business course cycle greenspan market point reins similar stock tested took
This is a similar point in the business cycle to when Greenspan took over the reins of the Fed. And of course he was tested right away with the 1987 stock market crash.
edge energy markets rest
This is going to keep energy markets on a razor's edge for the rest of the year,
holding job market together
This indicates that the job market is holding together pretty well,
affect bulk correction great housing market turned
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.
bond market rates
Reintroducing a little uncertainty in the bond market would be desirable. Long-term rates are too low,
data economic energy financial given gulf images instead markets prices reason rising symbolic worse
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.