Mark Zandi Good Quotations

That's right where the Fed would like to see it, ... It would take a good year of that level of monthly growth before the job market tightens to the degree where inflation concerns would become more paramount.

The tightening of the job market, while very good for workers and much deserved, argues that workers should also expect to face higher interest rates and somewhat higher inflation.

It's better than it was but it's not as good as anywhere else. There are growing pockets of strength. Chicago, Kansas City, Minneapolis -- these are economies that had been severely depressed a few years ago and are now making their way back.

Broadly speaking, the economy is in a pretty good place. But it's no longer obvious what the next step should be. Now it gets a lot more complicated.

Greenspan should weigh against asset markets in the good times -- just as he works to support them in the difficult times. He's been one-sided in his policies,

The job market is as good as it's been since 2000. Unemployment is 4.7 percent, and it is falling. Job growth is sturdy, and it is increasingly broad-based and across regions and occupations. In fact, this will be the first year that wage growth will begin to accelerate. It should be a good year for American students.

If illegal immigration came to a standstill, it would disrupt the economy. It would lead to higher prices for many goods and services, and some things literally would not get done. It would be a major adjustment for our economy, for sure.