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.
affect credit entire financial housing problems quickly result undermine
It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.
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.
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A bunch of problems that we have ahead of us are largely because of these tax cuts. They are very costly and will contribute significantly to budget deficits in the future.
boom degree few growth jobs largely next past problem process respect slightly tech time
Part of the problem that all of tech is having with respect to jobs is they significantly over-hired during the boom times and to some degree the past few years has been payback for overaggressive hiring. But I think that process is largely over and we should see slightly better job growth in tech by this time next year.
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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.
businesses compete driven employers expanding force growing growth hire hiring opportunity pushing revenue staff wages work workers
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.
accelerate clearly energy further inflation risks
The risks are clearly that inflation will accelerate further because of energy.
china number rhetoric
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.
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And you know at these kind of prices, there's lots of money to be made. So I'm sure they're gonna work triple overtime to get their facilities up and running again.
close high output profits share
Profits as a share of output are close to 10 percent. That's as high as they've ever been.
broader costs growth labor rising slowing strong
Productivity growth is slowing and it is not strong enough to forestall rising labor costs and broader inflation.