Pivot State of Play: Inflation, Recession Signals, and the Housing Market — with Mark Zandi - The Prof G Pod
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Jan 3, 2023 Mark Zandi dives into the current economy, addressing inflation and recession signals while easing concerns about a downturn. He highlights the impact of geopolitical uncertainties and recent protests in China on the market. The discussion also reveals how a strong dollar affects trade and growth. Insights into shifting migration patterns from urban to rural areas reflect pandemic influences. Finally, the conversation touches on how rising interest rates are normalizing asset prices and the personal journeys of navigating business and family challenges.
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Recession Not a Done Deal
- Mark Zandi believes a recession is not inevitable, despite widespread pessimism.
- He emphasizes the American consumer's strength, citing low unemployment and excess savings.
Inflation to Decline Rapidly
- Scott Galloway anticipates a rapid decline in inflation in 2023 due to several factors.
- These factors include energy independence, easing supply chain issues, and lower energy prices.
Housing Market Recession
- The US housing market is currently in recession due to increased interest rates and inflated home prices.
- Mark Zandi predicts a 10% decline in house prices from their peak if the US avoids a recession.