The consequences are more serious. Right now there is zero margin for error. Nothing can go wrong.
More Quotes from Mark Zandi:
if the financial markets were reeling and the images from the Gulf were getting worse instead of better, if energy prices were rising instead of falling. But given the economic data and financial markets, there's no reason to make a symbolic move.Mark Zandi
It is correct that health care costs are rising more quickly than incomes or wages, and that employers are passing more of their greater health care costs onto workers. But the increase in health care spending is not greater than the increase in incomes or wages.
Mark Zandi
It means that they're going to be under a lot of financial pressure in the years ahead. And that's going to put pressure on the entire economy and on the political process.
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
They don't have Greenspan's practical edge to them, but they all have academic and government policy experience. I hesitate to say they won't live up to Greenspan, but that would be hoping for an awful lot.
Mark Zandi
This Administration is trying to change the whole intellectual basis for fiscal policy that Alan Greenspan enforced when deficits were large in the early 1990s. We got fiscal discipline through the idea that deficits matter. That's been flipped on its head.
Mark Zandi
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