There is not enough uncertainty about Fed rate hikes. That causes people to take on too much risk.
More Quotes from Mark Zandi:
The Fed chair doesn't matter a lot to the average person in normal times. He matters an awful lot when things aren't going well -- when the financial markets freeze, or there's a 911 or Y2K or Iraq war. When people lose confidence, the Fed chairman is vital to restoring confidence and ensuring functioning financial markets and economy.Mark Zandi
The economy is good, but it hasn't improved for everybody. The gains have predominantly gone to higher-income and higher net-worth households. Lower net-worth households are still struggling.
Mark Zandi
Bush will paint Kerry as being a tax-and-spend liberal and Kerry will paint bush as only providing tax cuts for the rich.
Mark Zandi
Now, I do think when we move into 2012 and '13 when, presumably, the economy is on firmer ground, I would allow the tax rates for upper-income individuals to revert back to where they were before the cuts in the 1990s. I think at that point it makes perfect sense.
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
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.
Mark Zandi
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