Throttling Back: The Long and Short-run Economic Effects of Continued Uncertainty

The first half of 2025 has been marked by broadening macroeconomic and geopolitical uncertainty. How is this uncertainty likely to affect the U.S. economy over the coming months? And over the longer term? Mark Zandi joins EconoFact Chats to point out that while an immediate recession is unlikely, policies on tariffs, university and research funding, immigration, the budget, and efforts to influence monetary policy can have corrosive effects on long term growth. Mark is the Chief Economist of Moody’s Analytics. He serves on the board of directors of MGIC, the nation’s largest private mortgage insurance company, and is the lead director of Reinvestment Fund, one of the nation’s largest community development financial institutions.