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.
More Quotes from Mark Zandi:
Given the crosscurrents in the economic inflation data, it will be difficult for him to be clear-cut.Mark Zandi
The work force is growing not because employers are hiring a lot of new workers to staff expanding operations. The economy, in other words, is not being driven by businesses out there scouring for opportunity and revenue growth and pushing up wages as they compete to hire more workers.
Mark Zandi
The Fed is growing more uncomfortable about inflation, ... This is a more hawkish statement and signals that more tightening is on the way.
Mark Zandi
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.
Mark Zandi
If we get a string of bad data on inflation, the Fed will probably have to tighten for a bit longer.
Mark Zandi
It's always a bit difficult to read the economic data in the winter, just because activity is thinner, and the vagaries of weather are more pronounced. So it's not unusual to see, although this is an extraordinary amount of volatility.
Mark Zandi
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