Confidence is a key part of what's happening in the economy and the market. You shouldn't underestimate the importance of symbolic moves like these.
More Quotes from 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
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.
Mark Zandi
Here again, the business cycle will determine more than the commander in chief in the near term. There is very little the president can do to stimulate the job market quickly, ... but there is much the president can do to stimulate the job market long-run.
Mark Zandi
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,
Mark Zandi
The largest source that drove the very strong growth over the last year was this powerful replacement cycle, which is fading, ... The need to replace inventory is over.
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
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