I thought oil would have been a concern since it hit 40 but the economy has digested it well,
More Quotes from Mark Zandi:
A lot of things have to come together to make my forecast of a slowing current account deficit come true.Mark Zandi
Productivity growth is slowing and it is not strong enough to forestall rising labor costs and broader inflation.
Mark Zandi
Consumers are likely to pay more for lumber, coffee, chocolate, perhaps sugar anything that we import through the ports in the affected region will face higher prices.
Mark Zandi
Gasoline, home heating prices, they are very volatile. Some months they're up, some months they're down. They depend on the vagaries of the weather It's warm, it's cold. The big decline I think will result in a big increase next month.
Mark Zandi
At a minimum, this will hit consumers' pocketbooksand perhaps their confidence. Before Katrina, Goldstein estimated that consumers' annual fuel bills this year would average about 250 more for gasoline and 400 more for home heating oil and natural gas than in 2004. Now he reckons those amounts will go up 30 percent to 75 percent. Costlier energy could adversely affect consumer spending, corporate profits and inflationor all three. We could be reaching a tipping point on consumer psychology, especially when people get their home heating bills, ... Those will be big.
Mark Zandi
Labor will start demanding bigger pay increases and will get them.
Mark Zandi
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