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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It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.
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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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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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Now, I do think when we move into 2012 and '13 when, presumably, the economy is on firmer ground, I would allow the tax rates for upper-income individuals to revert back to where they were before the cuts in the 1990s. I think at that point it makes perfect sense.
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In November, there will be a lot of ugly economic data out on Katrina's initial impact and that might make it harder for them to move at that time,
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The housing market is fading fast and the prospect is it will weaken further as rates move higher.
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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.
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It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.
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It would take time for that to occur and during this period of adjustment -- some things might not get done -- maybe some crops won't be picked or some hotel rooms won't get cleaned.
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The work force is growing not because employers are hiring a lot of new workers to staff expanding operations. The economy, in other words, is not being driven by businesses out there scouring for opportunity and revenue growth and pushing up wages as they compete to hire more workers.
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The risks are clearly that inflation will accelerate further because of energy.
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The rhetoric over China is intensifying for a number of reasons.
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There won't be any change in the script the Fed has laid out. Export growth has weakened and there is a lid on wage growth. This data takes some pressure off of the more hawkish Fed members.
change data export fed growth laid pressure script takes wage
There won't be any change in the script the Fed has laid out, ... Export growth has weakened and there is a lid on wage growth. This data takes some pressure off of the more hawkish Fed members.