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
economy economy-and-economics fourth hit
The economy hit a pothole in the fourth quarter.
economy economy-and-economics gracefully storms weathered
the economy has weathered these storms about as gracefully as could be expected.
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The economy is strong and, if history is a guide, it should suggest inflationary pressures should develop, but they haven't.
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The economy is much improved over the past year but it's still underperforming.
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The economy is good, but it hasn't improved for everybody. The gains have predominantly gone to higher-income and higher net-worth households. Lower net-worth households are still struggling.
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The economy is going to be hit hard by Katrina, and it is going to be hardest on consumers who are already stretched thin. With the surge in gasoline and home heating oil prices, consumers will have a difficult choice to make between filling their gas tank or spending on other things.
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The job market is getting tight enough that employees will regain some negotiating power and some modest improvement in wage growth next year.
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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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The job losses over the past three years have been across a wide range of industries and from coast to coast. And if you've lost your job, in all likelihood you will remain unemployed for longer than in any period since the Great Depression.
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I think the new chairman will be more aggressive in tightening policy, at least early on in his term, just to establish his inflation-fighting credentials.
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I think the Fed will get rid of the reference about what to do in the future. I think they will make the statement as plain vanilla as possible, and they won't try to send a strong signal one way or the other.
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It is going to be a tough winter for many seniors. Not only will they face higher Medicare premiums, but record gasoline prices and higher home heating bills as well.
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The overall CPI does not reflect the inflation most seniors face.
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If underlying inflation begins to percolate higher, that will mean we will have to struggle with rising prices and higher interest rates.