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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This suggests that the economy has largely shrugged off the ill effects of the hurricanes. Christmas will turn out better than expected.
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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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We are a very low-cost area in a very high-cost region. Housing values have risen here, but not nearly as much as in other parts of the country.
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Workers are asking for bigger pay increases and they are getting them. The pendulum has swung decidedly in favor of workers.
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Fundamentally, though, it stems from the fact that China will post a $250 billion surplus on its trade with the United States this year and there's simply no sign of that easing any time soon.
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Given the recent surge in energy prices and higher medical costs, many will not be made whole by the increase. The increase is backwards looking; it represents inflation over the last year. In the near term, inflation will be greater.
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He doesn't have the wide range of experience Greenspan did going into the job, which has served Greenspan well.
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Businesses are stepping up. They're flush, and they're increasingly confident.
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Bush will paint Kerry as being a tax-and-spend liberal and Kerry will paint bush as only providing tax cuts for the rich.
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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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Going forward it will be harder for them to maintain their spending - and their living standards.
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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.
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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 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.