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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People are able to pull money out of their homes and put it into their gas tanks. So the overall effects on consumer spending have been small.
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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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This is going to keep energy markets on a razor's edge for the rest of the year,
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This is a pay back for the aggressive discounts consumers were offered to buy cars during the summer.
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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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If the Fed were going to pause in response to Katrina, it probably would be in November and December,
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Consumers are reeling from the high energy bills and that has to be watched very carefully. Another month of falling consumer confidence would be disturbing.
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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.
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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.
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A month ago the markets would have interpreted getting rid of measured as meaning that a 50 basis point hike was possible. Now the market won't know if it would mean no change, another quarter-point move, or a 50 point hike is next and that's precisely why the Fed should take it out,
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Inflation is still low and modest, but there are growing signs that it is starting to pick up.
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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.
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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.
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He doesn't have the wide range of experience Greenspan did going into the job, which has served Greenspan well.