Mark Zandi: ‘The U.K.’s Going Down the Rabbit Hole’ with Brexit

‘I think a recession is likely over the next 6, 12 months’

RUSH TRANSCRIPT:

DICKERSON: “The fallout from this. What do you think’s going to happen immediately?” 
ZANDI: “Well, I think the U.K.’s going down rabbit hole. I think this is going to be really tough for them. I think a recession is likely over the next 6, 12 months. For the European Union, this is going to hurt, but I think they can digest it. The eu’s a big place. U.k.’s big, but I think the eu’s big enough to take it down and not go into recession. For us here in the United States, I don’t think this is a big deal. I really don’t. This doesn’t lead to a broader splintering of Europe. That would being a problem including us. But barring that if what we’re seeing now is what we’re going to get, I think the U.S. economy is going to be just fine. In fact, there’s some benefits to us. Capital starts flowing into other places in world that are deemed to be safer, and that would include the United States.”

Video files
Full
Compact
Audio files
Full
Compact