Mark Zandi

In over 30 years as a professional economist, I’ve never witnessed such pessimism regarding the economic outlook, writes Mark Zandi of Moody’s.

Economists and Wall Street continue to warn of a possible recession. But the economy is in very different shape compared to the Great Recession over a decade ago.

The Fed no longer has investors’ backs.

Close to one-fourth of Philadelphia residents have incomes below the poverty line — an astounding figure.

Second- and vacation-home destinations and smaller and midsize cities that have enjoyed the biggest influx of work-from-anywhere households are most at risk once companies require employees to return to the office.

For the typical American household, the acceleration in inflation is a big blow. But price hikes could taper off if the pandemic can be stopped.

The continuing struggles of U.S. cities suggest the worst of the damage is far from over.

Businesses will need to pay their workers more and improve productivity so they can continue to deliver their products and services using fewer workers. This includes offering hybrid and remote work.

Work-from-anywhere is a fundamental shift in the way we live and work and will become even more prevalent .

COVID-19 came out of nowhere. It may be what economists call a black swan — a rare and inherently unforeseeable event with severe consequences.