The Latest Breaking News from Mark Zandi

Reddit recently lit up with thousands of responses to the question: “What’s an industry that exists only to service the very rich?” The answers, drawn from firsthand experiences and industry insiders, reveal just how many entire businesses cater exclusively to the ultra-wealthy.

Despite an encouraging upward revision of the U.S. economic growth during its third estimate release, a prominent economist is cautioning that significant risks persist, with stock market valuations reaching levels not seen since the dot-com era.

Stronger GDP also means the Federal Reserve will be under less pressure to lower rates aggressively.

Nearly 6 million older Americans reside in houses far larger than necessary, while growing families are crammed into spaces that are too small.

Despite elevated living costs and a tight job market, the U.S. economy is still strong. Moody's Chief Economist Mark Zandi says it's wealthy people who are keeping the economy afloat.

Oxford Economics finds that tariffs, labor dynamics, and policy shifts have hit younger and lower-income households hardest.

New financial products are keeping them in place, Meredith Whitney said: "This has made it easier for seniors to hold on to their homes by tapping into some of this built-up equity."

The market didn’t get the dovish signal it was looking for.

Mark Zandi, the chief economist at Moody’s Analytics, highlighted the role of the wealthy in driving the U.S. economy.

Mark Zandi says of the rich: "If they turn more cautious, for whatever reason, the economy has a big problem."

The U.S. economy faces an “uncomfortably high” 48% probability of slipping into a recession within the next 12 months, according to Mark Zandi, Chief Economist at Moody's Analytics.