Mark Zandi: Stock Wealth Fuels Growth, But at What Risk?

Moody's Analytics chief economist Mark Zandi joins the show to discuss the gap between the economy's headline performance and how markets are behaving, and the divide between top and bottom earners. The conversation covers how stock-market wealth feeds through to consumer spending, what that wealth effect implies, equity valuations and inflation's staying power, and the outlook for globalization and interest rates. It closes with the potential effect of AI on jobs and on policymaking.

1. The episode opens on the divergence between the economy and markets
2. Discussion of the wealth effect and how equity gains feed consumer spending
3. Equity valuations, inflation's staying power, globalization and the rate outlook are covered
4. AI's impact on job losses and on policymaking is discussed in the closing segments