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.
More Quotes from Mark Zandi:
This region is expanding not quite as much as the rest of the country. We will see much less housing activity, especially in the next couple of years.Mark Zandi
Bush will paint Kerry as being a tax-and-spend liberal and Kerry will paint bush as only providing tax cuts for the rich.
Mark Zandi
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.
Mark Zandi
Consumer spending growth will moderate, but it won't impede the current pace of economic expansion.
Mark Zandi
I think they will tighten, but there is a much higher level of uncertainty regarding this decision than at any one since they started over a year ago.
Mark Zandi
I don't really put too much weight on the big ups and downs in the energy prices. And food prices also fell. That probably is related to the warm winter weather, and we can't count on that continuing for very long, either.
Mark Zandi
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