People are responding to the escalating prices They're moving.
More Quotes from Mark Zandi:
If my decision were based solely on economic considerations, I would tighten again. I think the economy won't be derailed by this. I think the economy is firm and they (Fed governors) can send a signal that things are as they were.Mark Zandi
The impact is going to be very significant -- it may shave as much as a half-percentage point from economic growth this year.
Mark Zandi
Inflation is still low and modest, but there are growing signs that it is starting to pick up.
Mark Zandi
It's at the top end of what's desirable for the Fed policy-makers and investors. Inflation is low, but it is rising.
Mark Zandi
It's better than it was but it's not as good as anywhere else. There are growing pockets of strength. Chicago, Kansas City, Minneapolis -- these are economies that had been severely depressed a few years ago and are now making their way back.
Mark Zandi
Fundamentally, though, it stems from the fact that China will post a 250 billion surplus on its trade with the United States this year and there's simply no sign of that easing any time soon.
Mark Zandi
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