35 Burst results for "Zandi"

Even with another relief package, economic recovery is gonna take awhile

Marketplace with Kai Ryssdal

02:36 min | 6 months ago

Even with another relief package, economic recovery is gonna take awhile

"It is possible we know to hold two or more contradictory facts in your mind at the same time. for instance. it is a fact that altogether almost a million and a half people made new claims for unemployment benefits last week. It is also a fact that the day after christmas millions more people will lose federal pandemic jobless benefits and it is further fact the congress which is to say senate republicans for months have not been able to agree that more government help for this economy is necessary now the back against the wall though. It seems likely some kind of relief package might pass probably something just under a trillion dollars but as marketplace's mitchell hartman reports there is still a real an increasing risk that the recovery from this recession is going to be slower and longer and more painful than it had to be covid surging. Lay-offs arising consumers are hunkering down. Not a great place to be heading into twenty twenty one mark zandi at moody's analytics says the nine hundred billion dollars. Congress considering spending to get the economy moving in the right direction is only a down payment on recovery. This relief package is about avoiding going deeper into the economic col- without it. I do think we will go back into recession. So this is about avoiding that. It's not really about jump. Starting the economy and without more stimulus spending especially to shore up state and local government budgets. Heidi sheer holtz at the economic policy institute says the economy is backsliding. We've already seen more than a million jobs. Lost in state and local government when you have teachers and firefighters whose job so they no longer have income. They aren't spending money in the private sector and more people lose their jobs. Zandi hope is by the middle of next year as vaccinations spreads and the consumer economy starts to reopen on a post pandemic footing. The congress will pass a much bigger more robust stimulus bill. If a structure spending would generate lots of jobs for all of folks have lost their jobs permanently and try to get the economy back to full employment more quickly if that doesn't happen well we've seen this movie before. Heidi shield says after the great recession. Congress pulled back on stimulus spending too much too early. What they're doing now way better than nothing that it's not enough and i do worry about. We really setting this up to be another long slow recovery. That recovery to full employment took seven to eight

Mitchell Hartman Heidi Sheer Holtz Congress Senate Moody Economic Policy Institute Zandi Heidi Shield
Hopes dimming for another round of stimulus checks in 2020

Start Here

06:50 min | 6 months ago

Hopes dimming for another round of stimulus checks in 2020

"Regardless of a vaccine for so many americans. This is emergency time. We're so close. There is a light at the end of the tunnel and yet people are going to the hospital now. Businesses are getting closed now and without financial relief a lot. More people will lose their jobs some getting ready to spend their first winter in homeless shelters but this week you're also seeing some hope in washington that a deal can get done for the first time in months it seems. Lawmakers are close to passing another round of support. Compromise is within reach behind the scenes. There was clearly some bipartisan cooperation. Happening for example many democrats wanted direct stimulus checks sent to americans will it now appears some republicans and perhaps even the white house itself may be on board with that idea. Some workers have gotten sick. Have sued their employers for not protecting them better from the virus. Republicans wanted to shield corporations from that type of lawsuit. Mitch mcconnell is no longer saying that really has to be included. But they're so lots of hangups lots of reasons. This could be sunk so this morning. I don't want to talk about the partisan back and forth. I wanna ask a simple question what happens. Congress does not pass a code relief. Bill what are the consequences days weeks and months from now. Abc's chief business and economics correspondent. Rebecca jarvis is here rebecca. Can you smell it the stakes for me at the capital this week will brad incredibly important. It is make or break. It's life or death. I'm just day by day trying to figure it out day. Bonday that in the pocket of for example a single mother like angel recently spoke to in detroit who works in a hospital makes minimum wage. Therein has three school age. Children were that school. As of last friday is no longer available to her in person. The choice of work and kids shouldn't be a choice. I want to be the best mom i can be. This could be the difference between her being able to afford to pay for childcare to have someone come to her home or to even drop her children off at daycare or her potentially having to quit her job because she has no other alternative to care for her children and at the same time work so it's been challenging trying to keep going to work and prevent being far low or fire to keep you know inconsequential our lives and our lifestyles. But at the same time some nights. I go to sleep. And i'm like why am i going to work. What are the domino's that would actually fall. Just nothing happened like. Can you walk me through how that would play out from. The halls of washington to small business will two things especially are hammering. Small businesses and many small businesses in this country happened to be independent restaurants. They have not given us money and they have shut us down. We cannot survive. My staff cannot survive in one case particularly in california. You have a number of restaurants who've been told to close their doors because of the spike in cova cases now that we are going to close the outside. It's of our employees go home. And how are they going to pay their bills in new york while restaurants can remain open and they can serve primarily outdoors. They have a tipping point because things have just gotten so cold that as goldman sachs estimates about forty degrees. Is the tipping point where people are no longer going to be interested in dining outside while we're there in new york. The summer has just been a disaster to scott freezing cold after thanksgiving and the world has just completely fallen apart. Earlier this year in september the national restaurant association pulled all of its members and said how many of you can make it. The next six months without any additional aid from the government forty percent of the national restaurant association members. These are small independent restaurants across the country. Said they weren't gonna make it six months without help. That was three months ago. We're already in the territory where they weren't sure they were going to be able to survive. We see all these posters that were all in this together but it doesn't seem like we are when a particular industry as being targeted stricter than others for many of them. they're using their home as collateral their mortgage as collateral. What does it mean if they go out of business it means they could lose their home. It also means that their retirement savings for for many small businesses. The retirement account is the business itself. You've seen from j. p. morgan for example. They're now estimating the first quarter of next year. We'll see negative economic growth Moody's they're saying at this point that without help from the government we will see a double dip recession. And that's really what we're talking about here brad. What's you're not just envisioning like stays really bad. You're envisioning a scenario where it could even get a lot worse really suddenly affecting everyone with a potential deal rebecca here. I'm sure the average person would just take what they can get. But when you talk to economists business leaders are there things that need to be in this deal to avoid that disaster scenario. You just talked about well brad. According to a group of more than one. Hundred and twenty-five economists including jason furman who's a former top economic advisor to president obama. Those direct cash payments to american families are incredibly important. I need the help. My kid's name to eight other people's kids. The the the thing about stimulus checks is that they're one of the fastest ways to get people money that money gets spent immediately and it gets spent immediately in ways that can help give the economy a little bit of juice at a time where people have been pulling back but once you start looking at what various analysts in what economists are calling for. They're saying at this point sooner rather than bigger is better in fact If you look at what. Bank of america's chief economist is calling for right now. She wants to see money for testing for the vaccine and contact tracing pandemic employment insurance. That's the employment insurance for gig workers and people who have lost coverage because they've already extended out all of the benefits because they've been collecting benefits for too long and then direct aid to small businesses. Moody's mark zandi adds to that list. Rental assistance among the programs ending soon is the cdc eviction moratorium. If it expires it will lead up to five million tenants facing eviction in january the beginning of winter. I've never been in this situation ever before my life. I've never had to come out to beg for help. And even calling any of this stimulus is sort of a misnomer. It's really about relief. So that people can just get to the other side.

Rebecca Jarvis National Restaurant Associatio Mitch Mcconnell Washington Rebecca White House ABC New York Detroit Congress Goldman Sachs Bill Jason Furman Brad California Morgan
"zandi" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:10 min | 11 months ago

"zandi" Discussed on Bloomberg Radio New York

"Is back with us. Tomorrow is your price action to as out from the upper bound in New York after the biggest week of games, going back to early July equity futures up around about two points in the bond market yields in a single basis 20.20 0.55% but it's all a strength again for second session against the Euro. Euro dollar back down to 1 17 45 We come in 1/3 of 1% It'sa snows on a Wall Street. It is anything but on Capitol Hill. In fact, um I would say Washington, which is It was a snooze down in the nation's capital. We've been talking about Washington, of course, have full back into the jobs report that we saw on Friday. The mixed report and really the not trepidation. But the fear mystery of what we're going to see. The first week of September, joining us now John Mark Zandi of Moody's analytic, exceptionally thoughtful work over the decades out of Pennsylvania on We're thrilled the doctor's and he could join us this morning, Mark Sandy, you have a chart that speaks volumes in your latest research. On the participation across age in the participation across races in America. What does it say? Well. Participation collapsed in the pandemic. We're down about 2% points from over a pre pandemic and it's across the board across all ages. Ethnic groups. Ah, educational attainment. You know some variation, but this shows you the stress in the labor market, sacked on those folks that had stepped out of the workforce, Uh, stepped back in and continue and start to look for work. The unemployment rate Popular measure will be closer to 14% not the 10%. That's why I want to stop you right there. This is really, really important because John and I get a ton of email Mark Zandi, which says Mark Zandi is right. The 10% number is a fiction. Is the 10% number of fiction. It doesn't do justice to the stress in the labor market is fiction. In that sense, I mean, it's it's crippling. Ah, they haven't changed any of their methodology to be alive. Keeper the data, so it's accurate in that sense, but it's not giving you a clear sense of stress from all over America. People have stepped out of the workforce. They're not looking And they want a job. They don't think it's a viable to find one. So if you consider those folks the level of stress a lot hotter that 14% is probably more represented. What's going on the 10% Even 10% you know? Ah, ah, pretty tough labor market the peak of the finished picture. The unemployment rate in this financial crisis was 10% for one month. The stress is very high. Mark. A colleague Marco McKay always says there's a big difference between jobs created and jobs restored. And whenever he sees these payrolls report, especially over the last few months, he will refer to them as jobs. Restored. Can you walk us through the jobs that won't becoming back mark the permanent scarring you already sing in this labor market. That's a good point. So a lot of the jobs that were lost in retail and leisure, hospitality, transportation anything to do with a tourism travel recreation. You know they they obviously got creamed in the pandemic that there's some of them have gotten. Some of those jobs have been restored. But many, many of those jobs are unlikely to come back or I'd like to come back anytime in the foreseeable future. I mean, those models are going to change example, would be business travel. So you know, I have a couple 100 economists who work for me across the globe. Um, my biggest expansion compensation. Second, his rent, and the third has traveled before all this, but given the pandemic and given all the technological changes, we're not going back to the kind of travel we had before. I suspect many, many businesses around the world in the same position, So that's that's a business model that will have to change. That means there's going to be a lot fewer jobs to give you a sense of it. We lost 22 million jobs jobs in March in April, we've gotten AH, roughly nine million of those backs were down 13. Public another three million back by the end of the year, and that that's what the last 10 million getting that last 10 million back not going. He's going to take time. Public won't get there until well into middle part of this decade. Mark you mention travel. How much of that is vaccine dependent and how much of it is manager's looking around like in a new car structure and say, You know what? We're sticking with this. I think what tourism it's about. It's about vaccine and confidence that people are going to get sick. You get people who travel people in their fifties. Sixties seventies. You know the baby boomers, you know they are not going to travel until that there's a vaccine they feel comfortable with, and they feel like they're not going to get sick. You know, somewhere outside of their home So that will come back with Maxie. But the business travel that I just don't see that coming back in the same way. Arliss is not coming back anytime soon. My mark. I want to go to the X axis. I want to go to the time function here of the stimulus. You've done some political work. I'm not going to say, representing Democratic politics, but they have used your good research from Moody's Analytics. The Obama administration is no question about that. Do you sense an urgency in this are in this August in Washington, or they just slipping their way into a September That's too late. Well, they better have a sense of urgency mean if they don't act and and I should say the president's taking orders really doesn't advance the ball a significant degree. If there are what he proposed, or what he's ordered is unworkable. Nothing's going to change. And even if he got exactly what he wanted today, it's not enough, so they needed a sense of urgency. They don't pass up Francisco's rescue package. We're going back into recession and just throw in the odd weekend that we have here. I think one of my great observations is never ever. Ever. John. Have. I seen conservative economists in such sharp agreement with liberal economists? They all say the same thing. Let's go. Let's go. Let's go, Tom. They know the recovery's constraint. So you need some kind of demand side response. You need something to offset the shocks to income. Because the recovery is constrained by the virus..

John Mark Zandi Washington America Mark Sandy Moody New York Pennsylvania Marco McKay is manager Obama administration Tom Maxie Arliss president Francisco
Treasury names small businesses receiving PPP loans

Ron St. Pierre

02:25 min | 1 year ago

Treasury names small businesses receiving PPP loans

"Releasing releasing info info about some of the 650,000 recipients of loans from the payroll protection program, which was passed by Congress to allow small businesses to keep their workers employed during this pandemic. While mostly small businesses and nonprofits got money through the program, which is given out $521 billion. There were also some wealthy and well connected recipients to Among them. Kanye West's clothing and sneaker brand. The anti tax group Americans for tax reform companies owned by the family of President Trump's son in law and senior advisor Jared Kushner, as well as California representative Devin Nunes Winery Family Cos. Of West Virginia Governor Jim Justice who is considered to be one of the state's richest persons. Washington, D C political strategy Cos. Legal firms and big money hedge funds to Treasury Department only named companies that got more than $150,000 which made up less than 15% of the companies that received loans about locally. 2453 Rhode Island employers got the federal PPP loan worth at least 150 large Ted Niecy from Eye Witness News With that story, The US Small Business Administration on Monday released the names of all employers that got at least $150,000 from the Paycheck protection program, which Congress created in March to mitigate layoffs amid the covert 19 pandemic. The list includes quite a few familiar names. The Poss Ox got a loan of at least $350,000 to retain 49 jobs. Fellows got loans for a number of its restaurant locations. Even the parent company of the Foxy Lady Strip club received at least $150,000 to retain 159 jobs. Overall, the SB says 2453 Rhode Island employers got at least $150,000 each. 14 round, employers got at least $5 million over $1.8 billion in loans have been a Awarded in the states. So far, a majority of the loan money has to go toward payroll. Employers can apply to have the loans forgiven by the S P A. The economy needs a lot of help. Appearing on Sundays face the nation, Economist Mark Zandi warned. Congress will need to do more as the PPP winds down even though unemployment back down if you had a Books that are unemployed People who are got their hours cut there so working, but they got their hours cut. Then consider those folks that are still working. Haven't gotten your hours. Couple got their pay cut. You're talking about 1/3 of all American workers that are still struggling. And if you want to take a

Congress Rhode Island Devin Nunes Winery Family Cos Kanye West Jared Kushner West Virginia Washington Governor Jim Justice President Trump Mark Zandi SB United States Treasury Department Senior Advisor Ted Niecy California Representative
Iran assails US for Floyd death, rights stance

AP News Radio

00:48 sec | 1 year ago

Iran assails US for Floyd death, rights stance

"A president Iran's new report supreme trump shows leader has there were has talked far blasted about fewer using the US layoffs the active government last duty in the month wake military related of George strait's to to the quell corona killing virus violent for its allegedly protests payroll hypocritical processor nationwide ADP policies but when says it his comes defense two to upholding point secretary eight human million says rights jobs now medical were is lost records not in the and may right they time kill people experts didn't Pentagon were open predicting crime chief more mark and than they esper nine do not says million offer using an layoffs apology active while duty claiming since troops March to support to when perform human the pandemic law rights enforcement intensified you know duties these should are the the be words number a last of of job Ayatollah losses resort is twenty Khamenei's and only two point in reaching the most six urgent in million a televised and dire speech the bulk of on situations of the that anniversary was in April of he the says death America of his this predecessor is report not raises even optimism one of how those situations many job who losses has now final won't say be and as on bad he all is state as against feared matters invoking when commented the labor the on department insurrection through its report final act was is released which would like Friday allow concrete the president moody's to use analytics saying those troops chief quote economist as law mark enforcement this Zandi is nothing new says esper barring this has a is second the authorized American wave nature of sending cases several this is the active what coronavirus Americans duty army have recession been units doing to two bases the appears whole world to just only lasted outside of three Washington months Iranian if state he they're TV adds needed has it repeatedly could be but the they shortest have at not images recession yet of been U. S. on call unrest record to action and among in November the most Sager of last severe year made the Iranian on I the met Washington state Donahue put down nationwide demonstrations by killing hundreds arresting thousands and disrupting internet access I'm Karen Thomas

Iran United States George Strait Pentagon Khamenei America President Trump Moody Zandi Esper Donahue Karen Thomas Secretary Sager Washington
Esper opposes using Insurrection Act for law enforcement

AP News Radio

00:41 sec | 1 year ago

Esper opposes using Insurrection Act for law enforcement

"A president new report trump shows has there were talked far about fewer using layoffs the active last duty month military related to to the quell corona virus violent protests payroll processor nationwide ADP but says his defense two point secretary eight million says jobs now were is lost not in the may right time experts Pentagon were predicting chief more mark than esper nine says million using layoffs active duty since troops March to when perform the pandemic law enforcement intensified duties should the be number a last of job losses resort is twenty and only two point in the most six urgent million and dire the bulk of situations of that was in April he says America this is report not raises even optimism one of those situations job losses now won't be and as bad he is as against feared invoking when the labor the department insurrection report act is released which would Friday allow the president moody's to use analytics those troops chief economist as law mark enforcement Zandi says esper barring has a second authorized wave of sending cases several the active coronavirus duty army recession units two bases appears to just only lasted outside of three Washington months if he they're adds needed it could be but the they shortest have not recession yet been on call record to action and among the most Sager severe made on I the met Washington Donahue

ADP Secretary Pentagon America President Trump Moody Chief Economist Zandi Esper Washington Donahue Washington Sager
Survey: 2.76 million layoffs in May, far fewer than expected

AP News Radio

00:41 sec | 1 year ago

Survey: 2.76 million layoffs in May, far fewer than expected

"A new report shows there were far fewer layoffs last month related to the corona virus payroll processor ADP says two point eight million jobs were lost in may experts were predicting more than nine million layoffs since March when the pandemic intensified the number of job losses is twenty two point six million the bulk of that was in April this report raises optimism job losses won't be as bad as feared when the labor department report is released Friday moody's analytics chief economist mark Zandi says barring a second wave of cases the coronavirus recession appears to only lasted three months he adds it could be the shortest recession on record and among the most severe I met Donahue

ADP Moody Donahue Labor Department Chief Economist Mark Zandi
Survey: 2.76 million layoffs in May, far fewer than expected

AP News Radio

00:41 sec | 1 year ago

Survey: 2.76 million layoffs in May, far fewer than expected

"A new report shows there were far fewer layoffs last month related to the corona virus payroll processor ADP says two point eight million jobs were lost in may experts were predicting more than nine million layoffs since March when the pandemic intensified the number of job losses is twenty two point six million the bulk of that was in April this report raises optimism job losses won't be as bad as feared when the labor department report is released Friday moody's analytics chief economist mark Zandi says barring a second wave of cases the coronavirus recession appears to only lasted three months he adds it could be the shortest recession on record and among the most severe I met Donahue

ADP Moody Donahue Labor Department Chief Economist Mark Zandi
Getting Deep with Ali & Xortz

FrazlCast - A World of Warcraft Podcast

04:56 min | 1 year ago

Getting Deep with Ali & Xortz

"So I'm fries and I am doing about my friend tally of all things and Darts Tagab. Leaden Hi hi hi. I'm so both to be here. It's just like I'm so giddy like just like defense down because I know you're you're literally would you're literally just like bouncing in yours. You've been doing this like ever. Since I came into the call. It is weird the move to the standing desk. I don't even realize I bounce around like you're bouncing around just burning calories. It's fine exactly. You're doing your part. Even though you're you're at a workstation to stay fit and keep blood clots from forming unlike my lazy who sits in this chair for hours on end the only time I leave. It is to get a beverage or go smoke so I've been trying to eat healthier before this call. My parents brought home a raspberry cheesecake so I did have that deal. So that's just what was it with people and everybody I know has been having cheesecake lately. It's so good. It's so good. The only non cheesecake liking person on the face of the earth left. You might be I like. I haven't had it in a while but I do like cheesecake. It's good I'm not a fan and you know somebody else. I wonder. I wonder if epic Zandy is a fan. Sadly he's not here tonight to ask that but every Zandi what time is it. It's time to go around the table idea so wait a minute to recently. We'll start athletically. We'll start alley. I'm GonNa say this first thing only because Fraz was the one to put this in my section. He's really excited. I- streamed once yes now and he's very excited. I literally it was just a test dream. I didn't even have a camera on. I did some world is mostly to see how my computer would handle it if it smooth if I need to mess around settings which I did but it was like thirty bit rate settings or anything like that just as a box stream labs actually worked pretty well th the settings which was loaded. I miss this. Where was I? I usually do who is pretty late at night. You you actually been at work. I might have been a work and frazzle you were sleeping. It was made me think ten alleys joining the streaming ranks. Yes we're going to get her to affiliate we're GONNA. We're GONNA help her. Make some money up here. Willy. Here's the thing though. Is that my husband and I are actually just the process of getting ready to sell this place and buy a house which is really great but that means for the next couple of months. I don't know what to expect. Because that's cleaning and packing and selling this place and looking at other places and buying and thinking Internet new place but we might be able to make it work so that when I do get in the new place I can stream em- podcast and whatever without kicking my husband out of the room right now are computers are in the same room so that'd be nice for him we've been yeah he honestly. He's so supportive. He's like fine whatever he's right all right all right all right good. He's I mean he's in Cherry now. He's super supportive. And don't say anything back to this. I don't want the ones that you had the walls to say but also moving. You won't have those people next door. These neighbors man. I'm so over them. I can't the don't get me started. Don't do anything but outside of a streaming that one time I've been doing Alpha which is another reason I want to stream I wanNA stream Alpha. Pretty Great I got together with some other podcasts. In ran tour guest and two of the Dungeons Nick chronic wake and miss of tyrannus. Seis things how you say it. It is absolutely gorgeous. The Sky all the are in general. I people almost died because his looking around and not healing people. But it's gorgeous I love it. I love everything. I'm seeing Outer Chatelaine. So far it's just alphabet. I'm really enjoying it. Yeah Yeah are you taking notes ahead of time for when you get to these episodes at about like three or four years a couple I mean some like for example with a missive tyrannus. Ice Again from saying that right. There's like this huge bug and it's like loss would section is. I'm GONNA remember that I'm GonNa remember the first time Iran and people almost died because I was looking at the gorgeous skies since I always tell people to look up. Yeah so on. No thirty some really. I'm just really doing show work way ahead of time. Exactly it'd be interesting to see by how your opinions changed or I think Oh. I think that the sun was so great and they're like fifty five times. I'm I'm done I'm done. I think it's too pretty tired of it. It's that good

Fraz Zandi Darts Tagab Tyrannus Iran Outer Chatelaine Willy Cherry
Fed's jerome Powell Says Congress Should Do More To Save Economy

Marketplace with Kai Ryssdal

02:42 min | 1 year ago

Fed's jerome Powell Says Congress Should Do More To Save Economy

"With all possible. Respect to Jay Powell. The Chairman of the Federal Reserve is saving a cratering. American economy is no easy thing right but with all respect the time ten weeks into this thing has come to say all right. Show me what you got and we say that because Miss Pal has in television interviews in congressional testimony made clear that he believes Congress while already having done a lot of risky work should do more but he has also said. Mr Powell has what us the Fed. Oh we're not gonNA run at it and munition in more proper actual fedspeak yesterday. Ms Powell told the Senate Banking Committee. The Fed is quote committed to using our full range of tools to support the economy in this challenging time and quote so those tools what might be. Here's marketplace's Mitchell Hartman. Think of the Fed like a plumber. It's job is to make sure money keeps flowing through the US financial system when the system gets clogged by say a pandemic. The Fed whips out its monetary policy wrenches and drain remorse to unclog the flow of money. Make it cheaper and less risky to borrow and land. That's what the Fed did in mid March when it cut interest rates to zero says Brad McMillan at Commonwealth financial and that was really key to preventing paddock. Because of what? It said that the central bank was not going to let a crisis happen since then. The feds kept money flowing by adjusting banking rules. Buying up Treasury and mortgage bonds and the list goes on says Mark Zandi at Moody's analytics so the Stock Bond Markets Credit markets. Broadly are functioning. Well they still have some more room to maneuver here if they need to. Zandi says the Fed could backstop the mortgage market as more homeowners delay monthly payments and could buy more and riskier corporate bonds to keep credit flowing and the Fed is about to get money out to small and mid sized businesses through its new main street lending facility but one thing the Fed can't do says Andy is pumped money directly into the economy. Good things going again. Now that the people lost lots of jobs people very nervous lot of uncertainty. And that's more difficult for the Fed. The Central Bank could try to help Americans more directly says MIT economist. Deborah Lucas. Let's call helicopter money. They could print money and they could distribute it to households but she says that would be risky and would require the Fed to manipulate the money supply and banking system in ways it never has before I'm Mitchell Hartman for

FED Jay Powell Mitchell Hartman Senate Banking Committee Miss Pal Deborah Lucas Chairman Of The Federal Reserv United States Mark Zandi Congress MIT Brad Mcmillan Moody Commonwealth Financial Treasury
More than 20 million jobs vanished last month

AP News Radio

00:44 sec | 1 year ago

More than 20 million jobs vanished last month

"As the American he pushes jobs the nation market to continues re open president an epic trump collapse ventured outside payroll Washington company ADP yesterday on says a trip more of more than twenty about the journey million jobs than the simply destination vanished last White month House with the aides virus called pandemic it a symbolic keeping offices show factories the president and spent nearly much of America eight hours closed aboard Air Force the One private industry to spend report about comes three before hours the government in Phoenix releases its there was official a different April kind of unemployment symbolism as figures well Friday visiting a facemask economists say factory it'll show where a a jobless video monitor rate that listed jumped safety from four guidelines point four including percent in please March wear your to mask sixteen at all percent times in April the president did moody's not analytics he mark stressed Zandi the nation predicts needs job to losses get back will to normal likely continue the people through of our this country month our before warriors some hiring but he also resumes acknowledged easing but he restrictions warns recovering will have a all human the jobs toll lost some in April people be affected will be S. yes log will some people over be several affected years badly yes Sager it APN made Alice's Donnie finds Washington infection rates are going up at St start lifting lockdowns Sager mag ani Washington

President Trump ADP White Month House America Air Force Phoenix Moody Zandi Alice Donnie Washington Official Mark Ani Washington
More than 20 million jobs vanished last month

AP News Radio

00:40 sec | 1 year ago

More than 20 million jobs vanished last month

"Payroll company ADP says more than twenty million jobs simply vanished last month with the virus pandemic keeping offices factories and much of America closed the private industry report comes before the government releases its official April unemployment figures Friday economists say it'll show a jobless rate that jumped from four point four percent in March to sixteen percent in April moody's analytics mark Zandi predicts job losses will likely continue through this month before some hiring resumes but he warns recovery all the jobs lost in April will be S. log over several years Sager made Donnie Washington

ADP America Sager Donnie Washington Official Mark Zandi
More than 20 million jobs vanished last month

AP News Radio

00:44 sec | 1 year ago

More than 20 million jobs vanished last month

"The American jobs market continues an epic collapse payroll company ADP says more than twenty million jobs simply vanished last month with the virus pandemic keeping offices factories and much of America closed the private industry report comes before the government releases its official April unemployment figures Friday economists say it'll show a jobless rate that jumped from four point four percent in March to sixteen percent in April moody's analytics mark Zandi predicts job losses will likely continue through this month before some hiring resumes but he warns recovering all the jobs lost in April will be S. log over several years Sager made Donnie Washington

ADP America Sager Donnie Washington Official Mark Zandi
Coronavirus recession is "likely," economist says

Bloomberg Businessweek

01:30 min | 1 year ago

Coronavirus recession is "likely," economist says

"What's the damage to the economy that we've suffered so far but it's primarily from the attempts to fight the virus rather than the ravages of the virus itself which includes kind of shutting down a lot thanks for in teens planned shutdowns you know businesses closing transportation and so on all those things are devastating global GDP and so the question is and you said the question twenty twenty is how are we collectively meaning the room the human race going to manage to fight off the virus as we must without destroying everything else we care about the economy our family lives and so on and it one of the interesting things about this economic moment and you quote mark Zandi well known guy over at moody's chief economist he says we could be moving from a self reinforcing positive cycle to a self reinforcing negative cycle and that seems to be such a key insight here because what is a recession recession is when you lose faith in the future and you don't invest for the future of your business you don't buy if you're a consumer you hunker down and that very active hunkering down which is trying to protect you from the recession itself can trigger the recession because what works for one family or one company doesn't work collectively when everybody tries to do what it wants is what John Maynard Keynes called the paradox of

Moody John Maynard Keynes Twenty Twenty Mark Zandi Chief Economist
"zandi" Discussed on NewsRadio KFBK

NewsRadio KFBK

01:53 min | 1 year ago

"zandi" Discussed on NewsRadio KFBK

"A condom is mark Zandi with moody's analytics you're listening to ABC news then it's time for some traffic and weather together let's get to that right now Dana has starts us out all right they're brought to you by kitchen March downtown this fleet is about thirteen minutes really heavy in midtown as usual not quite so bad rather Marconi Kurds fled to Roseville is nine minutes downtown elk Grove it's gonna be a forty minute ride on I. five in a couple minutes longer on ninety nine at this point get some slowing around the fridge and it again further on going to Fulton twenty four minutes already on eastbound fifty so yeah it's going to be a tough one probably later on that you could make your break now wow fantastic dad ten woodland seventy minutes and ten minutes after Davis on westbound AT this time and you should have kids who might replace the kitchen and bath refacing makes it look new but it's half the price of a full remodel cabinets and countertops it's like a mini remodel a kitchen mark many remodel no one does it better than kitchen mark dot net traffic on the tens every ten minutes mornings and afternoons you're right data has knows ninety three point four K. three K. steady well a partly cloudy skies for tonight tonight you can expect a low forty eight to fifty two times of clouds and sunshine tomorrow it'll be pleasant with highs seventy one to seventy five mostly sunny and warm Thursday Thursday while a high seventy five to seventy nine I'm accu weather's to share the news ninety three point one K. F. B. K. all right says seventy five in citrus heights seventy three in Rancho Murieta seventy two in El Dorado hills as we're building a better Sacramento brought you by nor cal ram Jack well Michelle tap is a former English instructor and has four kids three of them adopted out of foster care contact with the birth family kind of realize that it was the vicious cycle because their parents have been in the system when they were young and they have been in and out in and out in and out and.

mark Zandi moody Dana Roseville Fulton Davis Rancho Murieta Sacramento Jack instructor ABC elk Grove K. F. B. El Dorado hills Michelle tap
Powell: Semiannual Monetary Policy Report to the Congress

Marketplace with Kai Ryssdal

02:17 min | 1 year ago

Powell: Semiannual Monetary Policy Report to the Congress

"Jay Powell went up to Capitol Hill today. The Fed chair here did his twice yearly congressional briefing lawmakers technically in case you're curious called the monetary policy report the T. l.. Dr Goes like this economy is basically fine. Yeah he's bit word. About Corona virus. Trade has settled somewhat buddies keeping an eye on it. Interest rates aren't going anywhere but then at one point in his report Powell. Well he wrote this and this is a quote levels of business debt continued to be elevated with the riskiest firms accounting for most most of the increase in debt in recent years. Now the reason. That's a worry. Well 'cause when not if but when things go economically south that debt it is going to be harder to pay back and that is not a good thing marketplace's Mitchell Hartman gets us going. Interest rates are low right now by historic standards. It doesn't cost Salaam to borrow money. Chris Zeffirelli at independent advisor. Alliance says it's true for a family buying a house you have a higher credit score and you're unable able to lower mortgage rates are lower car loans whereas if you were considered more of a risky borrower you'd have to pay higher interest rates. The same thing is true for corporations. And it's it's the high risk corporate bonds that are on the rise. This isn't the Amazon Google Nike facebooks of the world with plenty of cash on hand. Zeffirelli says it's companies that are very capital intensive in terms of having property plant equipment so industrial companies energy companies especially those exposed to risks six lake drilling for oil or buying land. Some pension and mutual funds are looking to hire risk bonds because returns aren't high enough on safer. INVESTMENTS INVESTMENTS SAYS University of Portland Finance Professor Bryan Adams. They need to earn five six seven percent to be able to do that. They gotta find riskier debt. Now now this rise in low grade corporate debt could be dangerous if companies start to see sales fall and cash flow decline says Mark Zandi at Moody's John Olympics. Do they pay on their debt. Start to pull back on their hiring vestment that were exacerbate the economic downturn similar to how risky mortgage debt contributed attributed to the financial crisis a decade ago. I'm Mitchell Hartman for

Mitchell Hartman Jay Powell Chris Zeffirelli FED Salaam Mark Zandi Bryan Adams University Of Portland John Olympics Advisor Nike
White House official Mark Sandy testifies in closed-door impeachment hearing

The Beat

00:16 sec | 1 year ago

White House official Mark Sandy testifies in closed-door impeachment hearing

"House impeachment investigators are hearing from White House budget official in closed door testimony at the capitol mark Zandi the first official from the office of management and budget to defy president trump's instructions not to testify like other witnesses in the investigation sandy was expected to receive a congressional

Official Donald Trump Sandy White House Mark Zandi President Trump
House impeachment investigators hold closed hearing with White House budget official

Weekend Edition Saturday

00:56 sec | 1 year ago

House impeachment investigators hold closed hearing with White House budget official

"On Capitol Hill house impeachment investigators are holding a closed door hearing with a White House budget official and pears Windsor Johnston reports they're seeking answers about why congressionally approved military aid for Ukraine was held up mark Zandi would be the first employee of the White House office of management and budget to cooperate with house investigators congressional Democrats had requested testimony from other when the staffers but they all declined to appear citing orders from the White House counsel's office sandy is expected to be questioned about the agency's role in withholding nearly four hundred million dollars in military aid to Ukraine president trump is accused of using that aid as leverage to press the Ukrainian leader to investigate a political rival the house will resume public hearings in its investigation on Tuesday winter Johnston NPR news

Official Windsor Johnston Ukraine Donald Trump White House Mark Zandi President Trump NPR Four Hundred Million Dollars
"zandi" Discussed on KTRH

KTRH

01:38 min | 1 year ago

"zandi" Discussed on KTRH

"Yates she was the acting Attorney General so remember sessions and re use themselves so transpired Sally Yates because Sally Yates he instructed the justice department not to defend trump's executive order the travel ban it was a temporary ban on the admission of refugee is barred travel from terrorist hot beds Sally Yates told the justice department to ignore the president so trump candor fired her mark Zandi what is cheering on Sally Yates cheering on an executive branch employees for refusing to carry out a lawful presidential order however this guy is called for a did not stop there in may of two thousand seventeen mark Zandi tweeted the Johnson agency sixty eight Nixon nineteen seventy three Clinton nineteen ninety eight impeachment hearings next up trump then in June of two thousand seventeen he tweeted forty five years and now we might be recalling stories regarding the impeachment of Donald Trump I'll be old but it'll be worth the wait in July two thousand seventeen mark Zandi tweeted I project CNN will play a key role in Donald Trump not finishing out his full term as president and now this goes.

acting Attorney General justice department president mark Zandi Nixon Donald Trump CNN executive Sally Yates Johnson Clinton forty five years
It’s a Big Week for Economic News, With Implications for the 2020 Race

Morning Edition

03:19 min | 1 year ago

It’s a Big Week for Economic News, With Implications for the 2020 Race

"President trump is counting on a strong economy to help him win another term but new numbers due out from the commerce department this morning are expected to show the economy lost steam during the summer and early fall here's an here Scott Horsley weak economic growth in the third quarter follows a sluggish second quarter when the economy grew at an annual pace of just two percent at this point it would take an economic miracle to achieve the three point two percent growth rate for the full year predicted in the president's budget we won't get a three plus percent growth rate for the that's not going to happen chief economist Diane Szwarc of grand Thorton says third quarter growth was hobbled in part by temporary factors including the strike at General Motors and the continued grounding of Boeing seven thirty seven MAX jets but the slowdown also reflects a steady decline in business investment the GOP tax cut was supposed to promote a surgeon business spending and the White House promised that would supercharge you canonic growth but swung says many businesses have grown skittish in the face of weak demand overseas and the president's trade war the uncertainty tax that we're paying with regard to trade businesses don't know where to place your bets don't know where to invest when they don't know where the next terrorist are gonna come from and so that's been one of the biggest waits on the US economy despite the flashing warning signs the president continues to boast about the economy telling reporters during a cabinet meeting last week it's his ticket to a second term I have the strongest economy ever it's the economy stupid right at the strongest economy in the history of our country to be sure the nation's unemployment rate is near a fifty year low and as trump noted earlier this week the S. and P. five hundred stock index just hit an all time high does anybody have a four one K. that's everybody other presidents have been wary of hitching their political fortunes to a volatile stock market but economist mark Zandi says trump shows no such reservations the only focus is what mark up but nonetheless he's got its finger on something the market matters a lot it's the real time broader of how the economy is doing and people perceive it that way sandy Dennis colleagues at moody's analytics have built a model that uses a variety of economic indicators including the stock market household income unemployment and gasoline prices to help predict the outcome of next year's presidential race for now then he says the economy is working in trump's favor if the economy is performing a year from now roughly like it is today in his approval rating is roughly the same and of course if turnout is typical then they given the economics he will win he will win the presidency twenty twenty sandy says that could change though if the economic slowdown triggers a drop in the stock market or a jump in unemployment a spike in voter turnout could also help Democrats especially the key battlegrounds of Michigan Wisconsin and Pennsylvania sandy notes all three of those states have a lot of factories and farms businesses in the cross hairs of the president's trade war those are the industries are actually suffering the most right now so ironically the president's trade war is doing the most damage to the economies of those states that will matter most to his reelection bid if transposing attention that sandy thinks the president will find a face saving way to avoid escalating the trade war if not he says drums own

Donald Trump President Trump Two Percent Fifty Year Four One K
"zandi" Discussed on WMAL 630AM

WMAL 630AM

04:22 min | 1 year ago

"zandi" Discussed on WMAL 630AM

"Live by Twitter and you're gonna die by Twitter and here's a classic illustration Twitter is now become the standard for the general public at large journalists because they're lazy just look for random entries on Twitter doesn't matter whose they are and if they fit the agenda they are included in the story as representative of public opinion and so the Democrats think that Twitter is basically loaded with their supporters sold waiter represents a majority of America and all of a sudden they're in panic because last night conversations about Pocahontas were eighty five point six percent negative about Biden were ninety four point six percent negative Bradley holding tweeting is out of this is Democrat this is this is bad this is bad no this is panic city this is the exact opposite of what everybody was expecting to do happen and then all the while that was going on you ever heard of a guy I'm sure you have a mention his name mark exam the mark Zandi C. A. N. D. eyes at movies mark Zandi is a prognosticator of some repute moody's financial services any any number of analytics and data analytics and ends sandy is a well known leftist pro Democrat out the was and he is panicked because this guy is sandy and his firm Modise they have models that they use to forecast and predict presidential elections three of them and then none of them have been wrong since nineteen eighty all of mark Zandi is formulas that he uses to print it presidential elections have been dead on accurate since nineteen eighty and according to these very models trump appears likely to win reelection next year according to three different economic models that movies uses to measure presidential contest motor uses only missed one presidential elections since nineteen eighty sorry they missed one they found that the trump will easily beat his three hundred to four electoral vote total in two thousand sixteen the three different models showed trump winning either two hundred eighty nine electoral votes you need two hundred seventy three hundred thirty two electoral votes or three hundred fifty one electoral votes the projections are based on how consumers feel about their own financial situations stock market gains achieved under trump and the prospects for unemployment those are the three models and all three of them only one time have been wrong since nineteen eighty and they are now forecasting trump they win either two hundred eighty nine three hundred and thirty two or three hundred and fifty one electoral votes on top of that hello she says no formal vote on impeachment that has what a lot of air out of that fire and I told you there wasn't going to be one I've been saying from the get go that she would not commit them to a formal impeachment process it isn't going to happen Hey I want now has announced that they are going to endorse crazy Bernie Alexander okay so Cortez and the squad will be showing up a crazy Bernie's rally over the weekend on Saturday what do you think that's about well it's not is is it's about they love Bernie he's the ardens old socialist in the group but it's also about moving Elizabeth Warren to the left they don't want anybody on the Democrat side moving to the center they're not gonna let it happen and as such they're gonna make this movie's projection come true whichever which way they go gonna take a break we're just getting humming just getting warmed up play by play of the news will continue right after this use.

"zandi" Discussed on NewsRadio KFBK

NewsRadio KFBK

03:29 min | 1 year ago

"zandi" Discussed on NewsRadio KFBK

"Bad does it no this is panic city this is the exact opposite of what everybody was expecting to do happen and then all the while that was going on you ever heard of the guy I'm sure you have a mention his name mark Zandi mark Zandi C. A. N. D. eyes at movies mark Zandi is a prognosticator of some repute moody's financial services any any number of analytics and data analytics and ends sandy is a well known leftist pro Democrat out the was and he is panicked because this guy is sandy and his firm Modise they have models that they use to forecast and predict presidential elections three of them and then none of them have been wrong since nineteen eighty all of mark Zandi is formulas their users to bring Dick presidential elections have been dead on accurate since nineteen eighty according to these very models trump appears likely to win reelection next year according to three different economic models that moody's uses the measure presidential contest motor uses only missed one presidential elections since nineteen eighty sorry they missed one they found that the trump will easily beat his three hundred and four electoral vote total in two thousand sixteen the three different models showed trump winning either two hundred eighty nine electoral votes you need two hundred seventy three hundred thirty two electoral votes or three hundred fifty one electoral votes the projections are based on how consumers feel about their own financial situations stock market gains achieved under trump and the prospects for unemployment those are the three models and all three of them only one time have been wrong since nineteen eighty and they are now forecasting trump they win either two hundred eighty nine three hundred and thirty two or three hundred and fifty one electoral votes on top of that hello she says no formal vote on impeachment that has left a lot of air out of the tire and I told you there wasn't going to be one I've been saying from the get go that she would not commit them to a formal impeachment process it isn't going to happen Hey I'm the squad to has announced that they are going to endorse crazy Bernie Alexander okay so Cortez and the squad will be showing up at crazy Bernie's rally over the weekend on Saturday what do you think that's about well it's our is is it's about they love Bernie he's the ardens old socialist in the group but it's also about moving Elizabeth Warren to the left they don't want anybody on the Democrat side moving to the center not gonna let it happen and as such they're gonna make this movie's projection come true whichever which way they go gonna take a break we're just getting humming just getting warmed up play by play of the news will continue right after this.

"zandi" Discussed on News Radio 810 WGY

News Radio 810 WGY

04:10 min | 1 year ago

"zandi" Discussed on News Radio 810 WGY

"And here's a classic illustration Twitter is now become a stand in for the general public at large journalists because they're lazy just look for random entries on Twitter doesn't matter whose they are and if they fit the agenda they are included in the story as representative of public opinion and so the Democrats think that Twitter is basically loaded with their supporters so Twitter represents a majority of America and all of a sudden they're in panic because last night conversations about Pocahontas were eighty five point six percent negative about Biden were ninety four point six percent negative Bradley Holden tweeting is out this is Democrat this is this is bad this is bad does it all know this is panic city this is the exact opposite of what everybody was expecting to to happen and then all the while that was going on you ever heard of the guy I'm sure you have a mention his name mark Zandi mark Zandi C. A. N. D. I. that movies mark Zandi is a prognosticator of some repute moody's financial services any any number of analytics and data analytics and ends sandy is a well known after just throw Democrats out the was and he is panicked because this guy is sandy and his firm Modise they have models that they use to forecast and predict presidential elections three of them and then none of them have been wrong since nineteen eighty all of mark Zandi is formulas that he uses to predict presidential elections have been dead on accurate since nineteen eighty and according to these very models trump appears likely to win reelection next year according to three different economic models that moody's uses to measure presidential contest motor uses only missed one presidential elections since nineteen eighty sorry they missed one they found that the trump will easily beat his three hundred and four electoral vote total in two thousand sixteen the three different models showed trump winning either two hundred eighty nine electoral votes you need two hundred seventy three hundred thirty two electoral votes or three hundred fifty one electoral votes the projections are based on how consumers feel about their own financial situations stock market gains achieved under trump and the prospects for unemployment those are the three models and all three of them only one time have been wrong since nineteen eighty and they are now forecasting trump they win either two hundred eighty nine three hundred and thirty two or three hundred and fifty one electoral votes on top of that hello she says no formal vote on impeachment that has let a lot of air out of that tire and I told you there wasn't going to be one I've been saying from the get go that she would not commit them to a formal impeachment process it isn't going to happen Hey I'm the squad to has announced that they are going to endorse crazy Bernie Alexander okay so Cortez am the squad will be showing up at crazy Bernie's rally over the weekend on Saturday what do you think that's about well it's our is is it's about they love Bernie he's the ardens old socialist in the group but it's also about moving Elizabeth Warren to the left they don't want anybody on the Democrat side moving to the center not gonna let it happen and as such they're gonna make this movie's projection come true whichever which way they go gonna take a break we're just getting humming just getting warmed up play by play of the news will continue right after this.

U.S. Deficit Tops $1 Trillion in First 11 Months of Fiscal Year

The Last Word with Lawrence O'Donnell

09:36 min | 1 year ago

U.S. Deficit Tops $1 Trillion in First 11 Months of Fiscal Year

"Other bad economic news for the trump election campaign president trump's own treasury department has been forced to admit up that the US annual budget deficit is now more than a trillion dollars a year candidate donald trump ran for president promising to completely eliminate the budget deficit by balancing the federal budget every year and then completely eliminate the national debt but in fact president trump has increased the national debt from nineteen billion dollars to twenty two trillion dollars and there are more troubling suggestions of the possibility of a recession hitting before the two thousand twenty election Jeffrey gridlock chief executive officer of double line capital said we should be on recession. Watch before the twenty twenty election good luck doc said Thursday in London. We're getting closer but we're not there yet the odds of a US recession before the election are seventy five percent said good luck and leading off our discussion tonight Mark Zandi chief economist of Moody's analytics as an economic adviser on John McCain's two thousand eight presidential campaign and is currently advising some some of the Democratic presidential candidates on economic issues and also joining US Jonathan Altruism columnist daily beast in MSNBC political analyst jumping covered the economic problems of the two thousand eight presidential campaign President Obama's efforts to bring the country out of recession in his first years Mark Zandi. I want to start start with you and your view of what the job loss what the effects are of the trump trade war. It's doing a lot of damage. I think it's fair to say that manufacturing The act sector the transportation distribution sectors are already in recession and the problems are starting to broaden out. We're seeing job. Growth slow in many parts of the economy slowdown has been very pronounced since this time last year when the trade really got go war guy going in if growth slows any further we're GONNA see unemployment starts to rise and once unemployment starts to rise. That's the fodder for an economic downturn because that spooks people they sense the rising unemployment. If you're open job positions less opportunity smaller pay increases less bonus they I start to pull back a bit on their Spending businesses see that they start point back more on their hiring. You can see Lawrence how you get into that self-reinforcing negative cycle which is a recession so we're not there air yet but the trade wars doing a lot of damage and if the president continues on the current course we'll get there pretty soon and Jonathan. We saw the trump reaching for Ernest gape patch to commemorate the seventieth birthday of a communist dictatorship. He has decided to delay delay his the his tariffs all of which are illegal by the way they are. He is using a clause inside trade law specifically for national security and there's not a single national security element in a Chinese clothes washing machines being imported into the United States or Canadian steel being imported in the United States so forth so these are all illegal tariffs that the market seems to have assumed would go away as soon as they became a political problem but donald trump is still holding onto them well. He's the master of disaster and he's never consistent any issue and traders among them. He just goes back and forth back back and forth the question now is whether he sees his reelection flashing before him and if you look at Mark Zandi numbers he he says nine hundred thousand jobs under the current tariffs. If the new ones kicked in in October it would go over a a million jobs and that's a pretty good talking point for Democratic candidate right plus who ran Barack Obama's successful of two thousand eight presidential campaign urged all aw of the Democratic candidates all of them to us exactly what you just said to us Mark Nelson tonight only one of them right so that they would next year. If if the tariffs continued I think and I don't WanNa make these sorts of predictions about trump because he's so unpredictable but because his reelection is the only thing nobody cares about there are some signs in recent days that he is looking as you said for an escape hatch and so they're going to put this all in reverse but at then puts Xi Jinping Dr Recy- right then he has trump exactly where he wants him and you have another situation where this guy proves used to be a disastrously bad negotiators so he will try to go back to the terms that they had in May when they can't close to having a deal. We'll see see whether Xi Jinping accepts them. He's got his own problems in Hong Kong. He has his own incentives to want a deal and there's some reporting out of China that had you know insiders are saying that he doesn't WanNa see trump lose his temper so he may be trying to placate him so they may have kind of fig relief trade deal to reassure markets mark ward about the Chinese economy and their ability to just hang on for eighteen eighteen months and hope for new president yeah good point and the advantages that Chinese has a and I should say the trade war is doing a lot of damage here. It's doing obviously obviously a lot of damage there. The Chinese economy is struggling but the advantage they have is that they have a lot of room for monetary and fiscal stimulus. They can lower interest rates. They can ramp up infrastructure spending they can cut taxes and they're doing all of the above and they're doing it very rapidly. I mean they don't have you know the problems that we have is democracy to get things done. They just do it and so that's supporting their economy and they're still hitting their targets. you know a lot of questions about the validity of targets but they're you know they're pretty close so so. I think because they have that latitude on monitoring fiscal policy they're gonNA. I think they're gonNA play this. played a little longer game here and I don't think they're going to agree to anything substantive until after the election I mean I just I think they're going to wait and see how the election plays out. Jonathan read just one word in there that I said that I really want to emphasize for the audience. You don't want to get in a trade war with a dictatorship. No one in China China is worried about their their approval ratings in government in this situation. Donald Trump is the one who has political risk. It's but it you know we're not sure whether she wants trump out of there because he's so easy to manipulate that he might WanNa do trump a favor and come up with some kind of a deal because he could have his hands full with President Warren or President Biden or somebody else was not as much of a sap and not as out of his depth in these negotiations and mark there is after all a Republican publican primary now in the states that are allowing. Republicans say allowing a primary elections. I I would expect the other. Republican candidates to be making as much of this is they possibly can and in certain situations in certain states some of them might even get a hearing on the trump trade war then some of the Democrats get yeah good point the irony in all of this at least from a political perspective. The president is that the damage that trade towards is creating is mostly in those parts of the country that have voted very heavily for the president think about that agriculture the farm sector of course presents trying to mitigate the fallout of the trade right were by sixteen billion dollars in aid but that only goes so far and of course manufacturing I mean he was all about manufacturing and this is manufacturing on the front line. China's trade war is starting to it's. It's in recession and starting to lose jobs so I know this is really hurting. The parts of the country that voted for the president in the last election and one thing Jonathan President obviously doesn't understand about agricultural markets is that farmers aren't looking at a four year horizon. They're looking at a lifetime horizon and they're looking at horizon which many of them hope that their children will be running the farm after them that means market's having having a market matters to them much more than getting a government handout because their market has been cut off and wants a market is cut off it means. It's been the source for that. Market's been replaced by some other country right so remember. The farm belt is the only place that trump has shoe supporting seventy five percent in some of these areas so any kind of erosion. There is really damaging to him. Politically and your point is spot on just to go to a quick Carter administration example when the Soviets invaded Afghanistan Carter over Walter Mondale vice-presidents objections imposed a grain embargo drying up roll those Russian markets and farm us sending grain what happened Democrats get killed old for twenty five years and they're still suffering from you can go when people will still be talking about the nineteen eighty grain embargo because it's their livelihood so if you wreck those export markets as you're as you're discussing there can be really long term consequences for Republicans and mark talk

Donald Trump President Trump Jonathan Altruism Mark Zandi United States Barack Obama China Xi Jinping President Warren John Mccain Economic Adviser London Msnbc Moody
"zandi" Discussed on NewsRadio KFBK

NewsRadio KFBK

02:41 min | 2 years ago

"zandi" Discussed on NewsRadio KFBK

"Jeannie of knowing its transmission lines were in need of repair and could spark fires and of doing nothing it's four forty seven now a KPK labor secretary Alex Acosta held a news conference today explaining his involvement in a plea deal for Jeffrey Epstein in two thousand eight there have been calls for a cost of to resign his position in the trump administration from people who believe that a Costa went easy on apps teen who now faces new sex trafficking charges here's what Acosta had to say he's a bad man and and he needs to be put away that seems actions absolutely deserve a stiffer sentence have seen got an ultimatum plead guilty to a charge that would require jail time and registration for face federal charges and that was the week more than ten years ago that ABS team went to jail in fact Acosta says I had it not been for his actions as a federal prosecutor pushing and that plea deal abstain would not have been punished the Palm Beach state attorney's office was ready to let Eckstine walk free no jail time ABC Zandi feel I talked about the choices that Acosta had eleven years ago Alex Acosta said on the guy wrote in with the white hat on the white horse and save the day and got him some jail time for soon to be registered as a sex offender and make restitution to some of the victims my first question and were I a reporter in that room would be but Sir why didn't you go ahead if he was this bad in the crimes of this bad and through the federal book at well he had an answer for that he said basically when you have a certain we deal a guilty plea deal in jail time you go with that because going to trial is always rolling the dice the other issue he brought up was that a lot of these women at the time were afraid to testify they didn't want to get their names public some of them refused to testify and that is that is true borne out by at least one signed affidavit from the time but many of those same women are coming forward now saying that they were not informed of the plea deal at the time and had they known how like the sentence would have been they may have risked their reputations and their emotional health to see justice done and finally secretary Acosta on the calls for him to resign my relationship with the president's outstanding if he has I think very publicly made clear that that I've got his support it is four forty nine now in news ninety three point one KFBK all rights hands it is time to check your traffic.

Jeannie Alex Acosta Jeffrey Epstein Costa attorney Eckstine Zandi reporter president KPK secretary Palm Beach eleven years ten years
"zandi" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:25 min | 2 years ago

"zandi" Discussed on WNYC 93.9 FM

"Give them a few more days to complete that. So that we to have a complete understanding of the back surrounding that which point we can make decisions about how for the United States should respond Khashoggi's family. She is calling for an independent investigation. And there is mounting evidence. That the men involved in Khashoggi's alleged murder and dismemberment were close to the Saudi Crown prince Mara Liasson NPR news, the White House. Treasury Secretary Steven Mnuchin is the latest high profile guests to bow out of Saudi Arabia's upcoming investment conference that much more unsettling for an already shaky US market were major indices are down one point two percent to over two percent. But economists Mark Zandi says there are other factors in this confluence of things have been bothering investors for the past couple of weeks, higher interest rates prospects that the Federal Reserve will continue to push retire overvalued. Stocks. People are nervous that the stock market has come too far too fast. And of course, there's that trade war that's escalating with China. And that's not good news. That's Mark Zandi of Moody's. Analytics President Trump is threatening to direct the military to close the southern US border with Mexico as tens of thousands of Central American, Mike. Have been attempting to cross to Mexico, and then the US in his tweet today. Trump urging Mexico to do something large number of incoming Honduran Salvadorans Guatemalans, Florida officials are adjusting election rules because of hurricane. Michael NPR's? Debbie Elliott has details with entire towns. Devastated and still without power less than three weeks from the mid term election, Florida is relaxing rules to allow for extended early voting and easier vote by mail options. We've seen governor Rick Scott who is running for US Senate approved the changes with an executive order. It allows locally elected supervisors of elections to add more early voting locations and keep early voting open until election day arrives on November sixth normally early voting closes the weekend before the election. The order also directs local officials to make sure that emergency responders and people who evacuated have away to cast a ballot the panhandle typically votes heavily Republican. That's debbie. Elliott. This is NPR and this is WNYC in New York. I'm David first mayor de Blasio today announced his sanitation Commissioner will also act as his administration's point person on lead poisoning prevention. The move comes after critics said the city tried to downplay the seriousness of the number of kids living in public housing who have elevated lead levels in their blood Commissioner Catherine Garcia sent her. First step will be to gather data from other city agencies. Lots of different pieces of information, whether or not that's where their lead service lines. Whereas there been findings of lead pain. Let's make sure we have it in one place. Anyone has a question. Here's where you go Garcia has been charged with coming up with a plan within three months to reduce residents exposure to lead her first deputy will take over some of her duties at the department of sanitation. The gateway tunnel project is in a state of limbo. And governor Cuomo is hoping a graphic video will break the deadlock while New York New jersey committed. To fund half of the thirteen billion dollar cost last year. The federal government has not offered to match it WNYC. Stephen Nelson reports in a late night tour of the north river tunnel captured on video homo pulls a rusty piece of metal out of concrete and declares. This is not a good thing. In your salt water from sandy has sped up the deterioration of many parts of the one hundred and seven year old tunnel from high voltage cables to metal supports Rick. Cotton is head of the port authority, which is overseeing the project. What's really going on inside the tunnels is toxic stew? In a statement. Federal officials say an environmental review which was supposed to be finished in March is still under review. Hurricane Michael will delay the delivery of to Staten Island ferry boats. The city's department of transportation says the shipyard constructing the vehicles is located on the Florida panhandle, which was devastated in last week's storm aerial footage shows the two ferries appear to be intact. But virtually every other structure in the shipyard was lost the first of this batch of new Staten Island. Ferries was expected to arrive in New York at the end of next year. That time line is now on clear sunny this afternoon. A high around.

United States Florida New York Khashoggi Michael NPR Debbie Elliott Mark Zandi Catherine Garcia Rick Scott Mexico Staten Island Trump Mara Liasson Commissioner US Senate Saudi Arabia Saudi Crown Federal Reserve Hurricane Michael
"zandi" Discussed on KLBJ 590AM

KLBJ 590AM

02:23 min | 2 years ago

"zandi" Discussed on KLBJ 590AM

"Dr Ford and misery Miras could be further investigated and the result be either they are corroborated or the is clear. I don't think enough people were interviewed to reach that full results. Kind of expected that jump in here at five one two eight three six zero five ninety how about some good news here when it comes to the economy. Now, she NBC has a story this morning that economist feel that we will go into recession slip into a recession in early twenty twenty maybe twenty twenty one. Employers continue to hire. According to a new report from ADP at moody. Analytics is report indicates the private companies at a two hundred and thirty thousand dollars two hundred and thirty thousand more positions last month. Those additions are the best since February when two hundred and forty one thousand jobs were added construction jobs goods producing industries led the way when it came to additional jobs being added, Mark Zandi. He's an economist with Moody's. He tells CNBC the labor market is rip roaring hot the risk of this economy overheats is very high. And this is one more piece of evidence of that. Appears there'd be some kind of downside downside to this rut, rip roaring hot economy. Well, it can't keep going the way. It's going right now forever. That's for. Sure. I mean, what is happening right now as extrordinary. It really is. I mean, it's it's it's amazing to watch. What it's been doing just about. I mean for the most part just about every day for the past couple of years. It's it's been amazing to look at the Dow go, wow, just making money every single day here more than but for them to say there's going to be a recession. They don't know. They don't know. And I think a lot of economic experts. Well, I think that they somehow he don't even pay your bills at home your wife. That's absolutely, right. That that is true. And a lot of. I don't understand. What's your economist had on Intel us, Mike, honest hat, which is really has. No credibility whatsoever. We'll tell you that they really don't know what they're talking about Labor Department's closely watched nonfarm payrolls report that'll be coming out Friday. There you go. There's also an interesting story this morning about how long should parents maintain the standard of living for their adult offspring. When did you cut the umbilical cord and tell Johnny well,.

Mark Zandi moody Labor Department NBC Dr Ford ADP Miras CNBC Intel Johnny Mike thirty thousand dollars
"zandi" Discussed on SuperTalk WTN 99.7

SuperTalk WTN 99.7

05:56 min | 2 years ago

"zandi" Discussed on SuperTalk WTN 99.7

"Would be up next Pete. How are you? You're covering your mouth piece. We can hardly hear you. How's this? A little better. Okay. What's on your mind? Fail. What am I? Okay. I feel sorry for the individual. Thanks. Most of our feel sorry for having. Awesome. Yes. Party evidently had to go in. We're going to have to let him go. I'm sorry. Sorry about that. It's just a we got wind. And also we can hardly hear what you're saying. That's just one of those those deals when you call into the show make sure that your if preferable you need to be not using a headset. And now, I use one, you know, when I'm in the car, but if you got you need to roll up, the windows and things like this. So we went into convertible was maybe he's in a motorcycle. But it's a shame because we wanted to hear what you had to say. But we can't hear you. When all the wind's blowing is like you're in a wind tunnel or something. So there you go if we can get him off the headset Johnny we can put him back on. But not gone. Okay. Let me go. Oh. By the way, we talk about the Dow Jones closing in the hunting third record high since election day, not only that CNBC saying rip roaring hot jobs market sees private payroll surge by two hundred and thirty thousand. Yes. We're looking at Moody's economist Mark Zandi says the current pace suggests an unemployment rate of close to three percent in a year. Three percent. Unbelievable. Job growth surged in September to its highest level in seven months as the economy put up another show of strength going to report from ADP and Moody's analytics private companies and a two hundred and thirty thousand more positions for a month. The best level since the two hundred and forty-one thousand jobs, it added in February and well ahead of one hundred and sixty eight thousand jobs added in August. The total was well ahead of the one hundred ninety five thousand jobs expected by communist surveyed by what was Thomas Reuters. But his now reflective I would've stayed with Thomas Reuters. I'm just saying reflective Thomas. Reuters is now riff innovative. Construction grew by thirty four thousand is goods producing industries overall contributed forty six thousand of the final count. Mark Zandi says this labor market is rip roaring hot the risks. That this economy overheats is very high. And this is one of one more piece of evidence of that overheats. So the winning gets too good. We gotta stop winning over hates. So we can have too many too many jobs added we can get too many people working what the heck is that supposed to mean if the current pace continues Zandi says he expects the unemployment rate default near three percent over the next year. The headline jobless rate currently is at three point nine percent. So how was that a bad thing? If unemployment goes to three percent. What is it? They consider full employment is like five percent or something unemployment they five or four. We're below that. Now, he said go to three, and we may overheat. How can you overheat when everybody's working? We'll figure economists yawns Dan this, apparently, I don't I don't understand how putting more people back to work as a band thing. Oh my gosh. We got everybody working. What do we do? Now. Well, look if here's the deal. And you folks out there understand this. If you've got everybody in America work, and this is America first. And then you need to issue some visas for folks to come in and do work. I have no problem with that whatsoever. The whole problem. I have with George W during the time, by the way, have you seen the trailer for for vice? Oh, yeah. It's it's sort of a it looks like a spoof on Dick Cheney, but Christian bale is playing chaining. He's dead on. I mean, they got him all made up and everything, and he's got the expressions and everything. And. What's the guy's name rot? Well, what is his name is the plays that Bush? He's got him down to your. We'll put this up on the website. Just you can see because it's pretty it's a course going to be bashing. I'm sure Cheney and Bush it's from the folks who did moneyball and some of these other than I heard that guy on we're not hear him. He was on a fresh air on NPR. And he was just bashing Trump up one side and down the other. I mean about all sorts of stuff that made no sense. And I haven't I do listen to the other side until I just can't take until I almost puke and have to pull over and start gagging. And then I have to just change the channel. And I heard some woman they had some folks on today talking about white privilege, and you white men, you you don't even you don't you don't even have perspective because your perspective is screwed up. Because you have all the power and won't do you? Remember, we had a black president, do you? Remember that? So it's white privilege, white males white men. We don't need to be here you need you just need to shut up. What you need to do. Because you don't even have perspective. I mean, your perspective is all screwed up because of your privilege and your power. Good grief. If I had the power, let me tell you some of the things I do if I had oh, we don't have time. Quick time.

Mark Zandi Thomas Reuters Dick Cheney Moody Bush Reuters America Dan this Pete CNBC president Johnny George W ADP
"zandi" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:09 min | 3 years ago

"zandi" Discussed on Bloomberg Radio New York

"The olympics open today a word that south korean president moon will be meeting with kim yongho jong kim jong un sister the olympic committee south korea confirms one hundred twenty eight cases of naro wise as a virus earlier in the week they had quarantine a number of security officer yonhap reporting no athletes are affected allegations today white house chief of staff john kelly covered up the fact that presidential staff secretary rob porter did not have a permanent security clearance because of spouse so abuse allegations and of the thai capital bangkok battling a cloud of unhealthy haze today surrounding other temples in the skyscrapers almost twice what authorities consider safe global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg gut i thought for sure we were going to hear the rocky theme song in the story about the celebration in a in philadelphia the elder happening super bowl they had their own hiphop doug i'll pull it for you if you wa all right all right let's get back to our conversation with mark zandi chief economist at moody's analytics up until this downdraft in the equity market one of the big issues i think for stocks was this trade issue and we we've seen a lot of weakness in the dollar we did over the last year the dollar as maybe found a bid here we were up today if you look at the bloomberg dollar spot index but but i'm curious has as to where we stand right now in your view with respect to trade not only nafta but with china and the us as well he i significant downside risk for the outlook ii think the general that hugh is going to be a lot of german drank in of course we reopen nafta and now the other battles over with a product and tariffs and quotas all but ended today not going to make that could be a pig k chat well you know nafta will be renewed and nothing of consequence foil significance will all uh we'll change but i but there's a lot of risk around that assumption that and uh you know we'll have to see how the things play out i mean you know it's one thing when it's just our.

nafta bloomberg mark zandi secretary john kelly chief of staff white house officer olympic committee kim yongho jong kim jong president hugh olympics us china moody chief economist philadelphia
"zandi" Discussed on KQED Radio

KQED Radio

02:11 min | 3 years ago

"zandi" Discussed on KQED Radio

"Promises aside there were some real signs of economic strength in today's numbers is marketplace mitchell hartmann reports deep down into the components of economic growth and the story is better than a two point six percent quarterly gdp increased suggests says joe bruce suelas set consulting firm r s m demand for goods and services x ports residential construction we're all up significantly we have a very formal domestic expansion occurring american consumers are spending at the strongest pace we've seen in a number of years private businesses are beginning to improve capital expenditures he says they're buying new equipment to make their factories offices and workers more productive mark zandi at moody's analytics says in the shortterm growth is likely to improves for two key reasons one the deficitfinanced tax cuts and the government's gonna go out and borrow money give everyone a tax cut in we'll see increase spending an economic activity and the other reason is a better global economy which will likely boost us exports and maybe also us manufacturing to supply them but says the anti i don't think longterm underlying growth is changed to spur of growth this year americans still aren't seeing big increases in pay the savings rate is down and we've been financing our recent shopping spree largely with debt zandi says that could eventually lead consumers to cut back on spending and he predicts all that plus higher interest rates could pull economic growth back into the low to percent range that's the longterm trend for the economy since the end of the great recession i'm mitchell hartmann for marketplace the stage is being set for something of a fight over net neutrality the idea rejected by the federal communications commission last month that internet service providers can't throttle or otherwise favor certain kinds of content over others that they got to be neutral and the name that is the federal rule now states however have other ideas about this the governors of montana and new york have signed executive order to mandate net neutrality under their jurisdiction and twenty one states and the district of columbia have sued to overturn the decision by fcc chairman agitate by market blaze ryan qallaf has.

joe bruce suelas capital expenditures mark zandi moody global economy interest rates mitchell hartmann federal communications commiss internet service providers montana columbia chairman ryan qallaf new york executive six percent
"zandi" Discussed on RobinLynne

RobinLynne

02:34 min | 3 years ago

"zandi" Discussed on RobinLynne

"The sun sentinel cockpit fancy had me god ludi lin donald trump big mali south zandi zeal two she talk show he fought was i coming graca machel annan told jay bright break benxi tapped by calling dig no down rotzang right down setting running the not hard to handle what i'm going to new pain vigil clash with ground once he made without god gulf turned to all of the show hit the blood like dead brady then headlining like foul had no snow not only does not need momma chaochou nick his turned it was you saw thrilled you're not where one count now sun sentinel symbol of suffering companies possess seeded they've not dude been the braille painting finland is taken extending jeans trump a novel a mixed bag morning the moment of only one of his puncture no bids mall mining project prodi trappings of body cobb jonah lomu this it's up in the limiting by karl magazine a ton applaud the announcement john kornblum no money down the leg off water is building g flat book on his own donte jim mind trump the sale is to renew this real threat good now john the faith dow decide to sink some big companies process it had been caught the race brits scott booth who mapping out in mad we'll tell them vin in order for it by your wallet claim what have gone forward football it would he go free not calling the another laura unbound though bosh toy upon than that dicks be guarded by wanted i looked at it gone.

jay brady finland karl magazine john kornblum dow football laura machel annan donte jim
"zandi" Discussed on Techstination

Techstination

01:59 min | 3 years ago

"zandi" Discussed on Techstination

"Takes the nation you're destination for get you ten gear imprint fission with the beginning of a new year lots of folks are resolved to live healthier lifestyles garments been among the leaders when it comes to fitness wearables with devices for the most serious runners and athletes all the way down to those opposed his trying to do a little better the new legal active three has a stainless steel round watch face that is customize herbal waterproof design and keeps you connected with smartphone notifications here's a growing list of sports apps and now it allows you to make mobile payments with garmin pay gps had heart read monitoring work well and says garmin zandi beckman they've partnered with samsung sport thing you can actually controlled your um you know smart home from your watch and in turn on your different uh light and tvs and things like that you can find the impressive vivo active three for as little as two hundred dollars you can find us at text and they shouldn't dot com i'm for efficient now this we've been telling you about the great products and great people at sea crane for years and the lineup just keeps getting better the c c wifi radio was a personal favorite that let you tune in to radio stations from all around the world via the internet more than sixteen thousand at all when the weather turns nasty the c c lantern will light the way with led bulbs and never run out of power you can charge it up for many usb source or the twelve old suck at your car or you can simply grabbed the hand crank on top and wind need an even more powerful solution the c c l e d spot xb runs on standard batteries and puts out nearly the equivalent of a one hundred what lightbulb you'll find those bright ideas and a lot more to like by clicking on the linked to seek rain at text a nation dot com put in the code text a nation for free flashlight with your order see crane they've been making customers loyal for decades.

mobile payments gps garmin zandi samsung two hundred dollars
"zandi" Discussed on On Point with Tom Ashbrook | Podcasts

On Point with Tom Ashbrook | Podcasts

02:11 min | 3 years ago

"zandi" Discussed on On Point with Tom Ashbrook | Podcasts

"In ownership mark zandi well i think initially the baby a decline in homeownership the you know we heard that that uh a woman talk about her home in the the cost of housing rising for because of the tax law changes and she can't afford her home so she'll be under pressure to sell i think though after an adjustment period say over the next a couple of three years when house prices are lower that makes housing more affordable for first time homebuyers and they'll come back in so when you look out of three four or five years from now my sense is that homeownership will be roughly unchanged so you know there's a bit of up and down here over the next several years as the market adjust to tax law changes but at the end of the day noam when you're when we look out into two into the early part of the next decade i suspect homeownership roughly be where it would have been otherwise without the tax law change you agree with that chris um i'm a little more pessimistic than mark is um on that so i think about homeownership over households over lifetime so if you look at americans almost ninety percent of americans at some point over their lives will own a home and that peaks for about eighty five percent of all households in their late '60s the tax changes reduce the incentives to buy for younger households particularly and while i think marks point that they will eventually be homeowners is right um i think they're likely to push back homeownership for a few years because of the lack of the reduction in the tax benefits associated with owning so that means the people who would have been a homeowner at 28 or thirty two or thirty five might that might go back three four or five years and that reduces the overall homeownership rate in the country so my sense is were likely to see some declines in homeownership rate for you know particularly for younger households i would also say that that would be the continuation and maybe the.

noam mark zandi tax law chris um five years eighty five percent ninety percent three years
"zandi" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:11 min | 3 years ago

"zandi" Discussed on WNYC 93.9 FM

"The national labor relations board has overturned a law in a way that will make it harder for contractors and workers at franchise businesses to form unions marketplace zandi euler is on the line is a new hurdle for collective bargaining here the that's right david the ruling that's being reversed dealt with a recycling centre staffed by contractors law had said workers in the case were jointly employed by this third party staffing firm and the business they were working for and that gave the workers the ability to organizing collectively bargain for wages and rights with that big company so this fresh nlrb ruling makes it harder for contractors are franchisees to organize that's that's right this latest ruling found that workers can only be recognized as employees when a firm has what the nlrb calls a direct control over the workers so a contractor doesn't fit this new test now a lot of labor union folks saw the writing on the wall for this one after president trump appointed to republicans to the labour aboard in certainly a lot of businesses welcome to the decision a leading democrat on the board senator patty murray of washington said the decision saying it doesn't recognize the rights of workers especially at franchises to organize to fight for wages and riots andy all right thank you very much let's do the numbers the 100share index in on and his up 4 points dow s p and nasdaq dag futures are all up in the two tenths of a percent range the dollars down at one eight t into the euro interest rates the 10year bond yield is up near 236 percent now student loan borrowers who are in default continued to climb in america last count who was four point six million people in that jam according to the department of education numbers marketplace's kimberly adams has more twice as many borrowers are in default on their student loans as there were just four years ago robert celts in net seton hall university says that's despite the economy going fairly well and income driven student loan repayment options then nellor at the center for american progress says some of those default suggest reflect more people going to college and the.

david nlrb patty murray washington interest rates america kimberly adams seton hall university president senator robert celts 236 percent four years 10year
"zandi" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:48 min | 3 years ago

"zandi" Discussed on WNYC 93.9 FM

"For a tax cut it to die timing mark zandi is chief economist at moody's these analytics a tax cut will put money in some people's pockets to spend it'll be he says a stimulus but doing that now like pushing on the economic gas when you're already at the speed limit look at the unemployment rate then he says it's headed to under four percent next year that's about a tight labour market as i've seen it or the congress i've been doing this for almost thirty years if americans take their tax cuts and start spending more money in the next year or two and threatened to overheat the economy the federal reserve may have to get involved don kohn is a fellow at the brookings institution it is but hedge job to keep prices stable meaning the fed might have to raise interest rates to prevent or control inflation if that happens you can kiss some of the promised economic growth from this tax cut goodbye it'd be like pushing on the gas and the brakes at the same time says moo zandi who calls the tax cut awash gonna be cautiously it's gonna add nations deficits and debt so you know pretty expensive way to go nowhere that is however assuming this tax cut will create much growth in the first place kent's matters runs the pen wharton budget model which predicted the tax cuts would increase gdp eight tenths of a percent but keep in mind point eight percent increase that is over 10 years if you break that down annually it's like eight hundreds of eight percent growth each year so that usually just not big enough for the federally third they get too excited about but in that case it's not a lot of gdp growth for anyone to get too excited about in new york i'm sabri benachour for marketplace all right slight change gears here mark december the eighth in your calendars gang one short week from today but it is a week in which a lot has to.

mark zandi chief economist moody unemployment rate don kohn interest rates kent sabri benachour wharton new york eight percent four percent thirty years 10 years