host: mark zandi is back with us . he served at chief economist at moody's analytics and is helpful in answering our questions about the state of economy. credit the end of last year, you wrote a column for the philadelphia inquirer that begin by saying this -- guest: i think the correction in the stock market, at least so a typical garden-variety correction in the equity markets. we see that once or twice a year. longer thane bit normal. the last correction was over two years ago but this feels very typical to me. decline, the price prices are just back to where they were at the end of last year and beginning of this so no big deal, at least so far. host: what are your criteria for good economic times? guest: i think what matters most to most people's jobs. and recruiting lots of jobs, created a couple of million last year, about the same as the year before and the year before that. the american economy has been a job machine since the economic recovery began almost nine years ago. when you are creating 2 million jobs

host: just a minute or two left with mark zandi. from florida, a republican, go ahead. ander: thank you, c-span mr. zandi for your input. i have the same concerns that have been voiced by the other callers. any other household person would be concerned if they were cutting their income and at the same time, increase their borrowing. how imminent our credit rating downgrades? credit rating agencies were criticized for being behind the curve on some of the ratings and the problems that came up in the financial crisis so are we already behind the curve for the downgrade? it seems the policy is so reckless, it might be in order for future downgrades. guest: good question. i'm not in the rating agency. i'm in the moody's analytics which is separate so i don't have any direct input into the ratings process. i don't know what the folks of the rating agencies are thinking about as far as ratings on the debt this year or overseas. look -- first, rating agencies have been downgrading other sovereign governments. you can see that in the case of many european economies during the eu

joining us to share his thoughts on the economic outlook is mark zandi from moody's. thank you for joining us. what did you make of minutes that the market at first nd then saw benignly, saw seemingly in a different way? well, i think the fed was just more sure about things, or more sure about the economic growth that's cong. we are going to see strong above potential growth falling on plimt. and they were more sure about inflation, that we ar going to get back to the 2% inflation target. more growth, more inflation that makes investors nervous about higher interest rates and higher bond yield. i have to think the fed j wast more sure. >> if they had had this meeting -- let's play a game of hypotheticals here, with the benefit of knowing what that jobs report was going to be in february, what the budget deal was goingo be would they have been even more optimistic about th and more hawkish? >> yeah. absolute. i mean particularly the budget deal. one economic data point, no big deal. you need a string string of economic date. but the budge deal, that's going to add anio

mark zandi is joining us, he does dive into the markets. mark, if you're watching this, you have a 401(k), maybe you have money in the stock market, maybe you don't, how concerned should those regular people be? i'm not talking about hedge fund guys working on these short selling whatever. people should not be freaking out right now seems to be a advice most experts are giving, right? >> i wouldn't even look. >> don't even go on line, don't even log in? >> don't do it. don't do it. >> that might be a little late for some people. >> if you're in the stock market you should have a long-term investment authorize. you have to look through these ups and downs so i wouldn't be looking. no worries. >> at what point will you get concerned? you. >> well, if the price declines double. so, you know, from the peak prices are down about 10% and that's a typical garden variety market correction. we've got -- we've seen many of those over the years, no big deal. i don't think i'll have any -- doesn't reflect anything in the economy, doesn't impact the econ

host: just a minute or two left with mark zandi. from florida, a republican, go ahead. thank you, c-span mr. zandi for your input. i have the same concerns that have been voiced by the other callers. any other household person would be concerned if they were cutting their income and at the same time, increase their borrowing. how imminent our credit rating downgrades? credit rating agencies were criticized for being behind the curve on some of the ratings and the problems that came up in the financial crisis so are we already behind the curve for the downgrade? it seems the policy is so reckless, it might be in order for future downgrades. guest: good question. i'm not in the rating agency. i'm in the moody's analytics which is separate so i don't have any direct input into the ratings process. i don't know what the folks of the rating agencies are thinking about as far as ratings on the debt this year or overseas. look -- first, rating agencies have been downgrading other sovereign governments. you can see that in the case of many european economies during the european

mark zandy's matt is the one who did. a few problems with he is the guy whose math the obama administration used for stimulus shovel ready stuff and they said the economy was going -- >> martha: i remember that. >> only 2.5%. didn't happen. i struggled with the math a little bit. i think what's happening is, i think we currently are at full employment. i bet that we won't see it go down much more. but what i'm looking for in the next employment report, i want to see wage growth. that's what this is really all about. we saw wage growth in the private sector really grow last year. it was up to multidecade high. very high. i want to see that wage growth really take off in the for hourly wages it dipped a little last year. >> martha: only way to go up is people are looking around for workers and they are saying i can't find them so i'm going to have to pay people more to get them to come to work at my place. >> we are at that point right now. when you look around whether it's the local bank. >> martha: which is great for peop

expectations are so strong that chief economist mark zandi said the u.s.headed for a jobless rate of 3.5% by this time last year, a rate not seen since 1969. but how likely is it and what are the hidden consequences that could bring. and joining me is mark. good to see you as always. >> hi, ali. >> let's talk about this. 3.5%. what gets us there? >> well, if job growth and labor force growth and people coming in looking for work grows at the same rate in the coming year as it has over the past two, three, four five years we'll get there. the unemployment rate has been falling half a percentage point each and every year for the past eight -- almost nine years. so all we have to do is stick to that script and we'll be at 3.5% by this time next year. >> despite what president trump said, that growth has slowed a little bit. which some people say happens when you get closer to a lower and lower unemployment rate. so can we expect the pace of job growth to continue given that we're getting closer to the bottom? >> at some point it will slow. with 3.5% unemploym

mark zandi is a chief economist at moody's and is with us to answer your questions about the economy. a view from outside the united states, craig is an independent in haiti, good morning. morning, i was wondering how you factor in the $20 trillion debt and all the deficit. maybe the president and economists are not alarmed enough about this. there was a lot of concern about deficits and the debt but not so much anymore. i think there is not enough attention being paid to this even though there has been some talk over the last couple of weeks. it seems like we are living in such an artificial economy. the interest rates of been artificially grown over the last 20 years. how do you factor that in with how well the economy is doing. we will eventually have to deal with that issue? thank you. guest: i totally agree. i am perplexed by lawmakers' willingness to run very large deficits and add to our debt load. the deficit financed tax cuts that were passed during the year , under a reasonable set of assumptions, will add one point $2 trillion -- $1.2 trillion to our deficit over the next d

then mark zandi discusses stock market volatility, the gop tax cut, and rising deficits.hen we're live in little rock, arkansas for the next stop on forc-span 50 capitals tour a meeting with governor asa hutchinson for discussion of key policy issues facing the state. "washington journal" live 7:00 a.m. tuesday morning. join the discussion. >> the senate voted to move forward with the immigration debate monday. we expect to see a number of immigration proposals. a billrassley introduced that aligns with president trump's immigration priorities. they will address daca and border security. for many in the daca program expire on march 5. watch live coverage of the senate at 10 a.m. eastern on .-span2 >> c-span's history series "landmark cases" returns this month with a look at 12 new supreme court cases. experts join us to discuss the issues and personal stories behind the significant supreme court decisions. beginning february 28 at 9 p.m. eastern and to help you follow the cases, we have a companion guide. "landmark cases, vol. 2." to get your copy, go to www.c-span.org/la

then chief economist mark zandi discusses the market volatility, the gop tax cut and rising deficit. we are live in little rock arkansas for the next up on the cspan bus 50 capitals tour with arkansas governor on key policy issues facing his state. be sure to watch cspan "washington journal" live at 70 string tuesday morning. join the discussion. now a conversation on efforts to lower prescription drug prices from "washington journal". >> each weekend we take a look at the intersection of your money and federal policy. we are joined by david mitchell to talk about prescription drug crisis. you can go for a spread what is your group. >> guest: it's to help patients for affordable drugs. we are the only national patient organization focused exclusively p

then mark zandi discusses stock market volatility, the gop tax cut, and rising deficits.hen we're live in little rock, arkansas for the next stop on the c-span 50 capitals tour for a meeting with governor asa hutchinson for discussion of key policy issues facing the state. be sure to watch c-span's "washington journal" live 7:00 a.m. this morning. join the discussion. ruth gator been

then moody's analytics' mark zandy discusses rising deficits and market volatility. and we are live in little rock, arkansas for the next stop on the c-span bus 50 capitals tour with arkansas's governor asa hutchison. "washington journal" live at 7:00 eastern tuesday morning. join the discussion. >>> pennsylvania governor tom wolf recently gave his annual budget address at the state capitol in harrisburg. he also discussed his legislative priorities including education investment, work force development, and combatting the opioid epidemic. this is fwhints. this is 20 minutes. >> thank you very much. lieutenant governor stack, speaker, president, leader corman, leader costa, members

mark zandy says u.s. is headed for 3.5 unemployment rate. first, do you agree with that?ean, that's a low number. >> good chance he's right. we got a strong trend going on job creation. it will probably keep going for a while. so i feel good -- i feel good about that. unemployment's been trending down now for six or seven years. it doesn't look like that trend's going to interrupt. the question is, are we using this -- these good times to build a foundation for long-term prosperity. that's the real question. >> well, what's the answer? >> -- during these good times. i'm not sure we are. i don't think it was the right time to take on large quantities of debt through the tax bill. i think it was the right time to start paying down debt. it was the right time to start fixing our country's infrastructure. it was the right time to be making plans for moments that when the economy's not as good as it is right now. so i worry that we're on a kind of sugar high that we're having a party, but that there's something fundamentally unsound about the approach we're taking, the approac

then mark zandi discusses stock market volatility, the gop tax cut, and rising deficits. then we're live in little rock, arkansas for the next stop on the c-span 50 capitals tour for a meeting with governor asa hutchinson for discussion of key policy issues facing the state. be sure to watch c-span's "washington journal" live 7:00 a.m. this morning. join the discussion. -- ruthor been spurred ginsburg. this is one hour and 20 minutes. ♪ [applause] >> good evening. i am the dean of the university of pennsylvania law school and it is my great pleasure to welcome justice ruth bader ginsburg. we are very proud to partner with the national constitution center tonight. first i want to introduce a bit of the history of the roberts lecture. the lecture is named for our supreme court justice roberts and was established in 1956. it was cosponsored by the law school. the wording of the original agreement about the lecture says, the lecture is to be delivered by a nationally prominent person who might be expected to make a significant contribution in legal thought. i think we have me

chief economist mark zandi on that right now. mark, good to have you.hanks for taking the time. >> hi, neil. neil: so what do you see? what would bring it down to 3.5%? a continuation of a tightening labor market trend or what? >> yeah. we just need to maintain job growth for the coming year similar to the job growth we've been getting over the past three, four, five, six years. if we get that, then, yeah, 3.5% is likely. i mean, the unemployment rate, neil, believe it or not, has been falling a half a percentage point per annum, so just a continuation will are get us to 3.5. neil: everyone is concerned about wage growth, it picked up at a 2.9% clip, good for those enjoying that, bad for those worried about inflation, interest rate hikes or all of the above. where are you? >> yeah. well, you know, interest rates are headed higher. in large part because that unemployment rate is getting so low, and wage and price pressures are developing and will develop more fully as we make our way through the year into next. and, of course, now we're going to have big

host: mark zandi is back with us . he served at chief economist at moody's analytics and is helpful in answering our questions about the state of economy. credit the end of last year, you wrote a column for the philadelphia inquirer that begin by saying this --

. >> somebody -- maybe it was mark zandi, they said they expect unemployment to fall to 3%, 3.5. >> theres some talk. members of the fed called it mid 3s joe, i have to call you out. i've been waiting for you to use your comment that you've used. strong hands. >> the dome? >> no, strong hands. isn't this a moment when that strong hands concept, a big change in the interest rate verne zblmt you mean where the stocks move from weak hands to strong hands >> weak hands to strong hands. now you have to find strong hands in the current interest rate environment, right? you have a different regime when it comes to rates right now. you have to find people that are willing to hold those stocks at that level of interest rates you have the transition period. >> what's interesting, steve, as long as i've been watching things, it's been a while, bottoms were always easier to find i've never been able to figure out the top. >> top. >> never so i don't know whether the strong hands are unloading into the weak hands right now or -- it doesn't really look like it since we still have buying. >> and you sti