Mark Zandi People Quotations

People are responding to the escalating prices: They're moving.

People are able to pull money out of their homes and put it into their gas tanks. So the overall effects on consumer spending have been small.

It's similar to asking a big part of the labor force to leave. In today's economy where the job market is at capacity, asking people to leave means the economy will not grow as fast. In fact, there could be a very difficult adjustment over the first three to four years when this process is in full swing.

There is not enough uncertainty about Fed rate hikes?. That causes people to take on too much risk.

In the next few months, there's no upside. And this winter, we're going to feel it more noticeably as people pay record gas prices and record home-heating bills.

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 9/11 or Y2K or Iraq war. When people lose confidence, the Fed chairman is vital to restoring confidence and ensuring functioning financial markets and economy.

In Florida, people are moving up the coast

At best, people should prepare for no pay increase and no bonus, something they have been getting a lot of. At worst, they should be thinking they may need to change occupations.