In this webinar replay, Mark Zandi and the Moody’s Analytics team examine the economic impact on the national and regional economy, including the effect on GDP, corporate profits, gas prices, as well as property damage estimates for infrastructure, real estate and vehicles.
Hurricane Harvey is poised to become one of the costliest natural disasters in U.S. history. It will take a significant toll on Southeast Texas, but is unlikely to be a macroeconomic event. Harvey could leave a small but temporary mark on U.S. GDP that likely won't be enormous unless there are significant disruptions to the energy industry.
Chief Economist Mark Zandi discusses the economic impact of Hurricane Harvey including:
- What is the hurricane's immediate impact on the regional and national economies?
- What are the implications for the U.S. energy industry?
Existing-home sales rebounded in January, climbing 3.1% to a seasonally adjusted annual rate of 4 million, slightly above consensus expectations for 3.97 million sales.
The check-engine light is on for the auto credit market.
September's consumer price index, as Moody's Analytics expected, showed a 0.4% monthly increase that held the annual inflation rate at 3.7%.
Since excess savings are measured as the amount saved in excess of what would have been saved if the pandemic had not occurred, it is clear that the more time passes, the more uncertain assumptions about the underlying trend in saving becomes.
Federal Reserve Chair Jerome Powell last week emphasized the degree of uncertainty surrounding the outlook for monetary policy, while reasserting the central bank's commitment to not ease up on the brakes until its 2% inflation target is in sight.
U.S. retail sales continue to grow at a modest pace that is barely keeping up with inflation.
The U.S. disinflationary forces gathered steam in June.
The Federal Open Market Committee softened its tone in May's post-meeting statement, a sentiment reinforced within the FOMC meeting minutes.
The Treasury debt limit drama is fast approaching its finale. Congress and the Biden administration have no more than a month before the Treasury runs out of enough cash to pay all of the government's bills on time. Here, we update our analysis of two alternative scenarios that bookend the economic impact if lawmakers do not act in time and there is a breach of the limit.