Keep pulling the thread on Mark Zandi.
The first CARES Act passed under the Trump administration was the largest fiscal stimulus as a percentage of GDP since World War II.
During the 2010s, U.S. fiscal policy was contractionary, forcing the Federal Reserve to provide most of the economic support through monetary policy.
During the 2008 financial crisis, the CEO of a major U.S. retailer informed Mark Zandi that their company was at risk of being unable to make payroll due to frozen credit markets.
House prices on the west coast of Florida are falling due to rising homeowners' insurance costs, which are driven by increased hurricane and storm damage risk.
Indonesia's central bank is conducting extensive climate risk assessments because its capital city, Jakarta, is increasingly threatened by rising sea levels.
Mark Zandi believes the Federal Reserve is currently prioritizing its full employment mandate over its inflation target.
Mark Zandi briefed the Federal Reserve Board under Chairman Alan Greenspan about the risks in the housing market prior to the 2008 financial crisis, but received no questions from any board members.
The American Recovery Act, passed in March 2021 under the Biden administration, was a $2 trillion stimulus package.
Mark Zandi believes the U.S. economy is struggling and on the precipice of a recession.
In the first half of the year, U.S. GDP growth was barely 1%, with consumer spending flat and the manufacturing, construction, and transportation sectors already in recession.
Mark Zandi predicts that upcoming U.S. employment reports could show net job losses.
Mark Zandi's baseline forecast is for the U.S. economy to avoid a recession but experience weak growth of 1% year-over-year through Q1 of the following year.