Mark Zandi, chief economist at Moody’s Analytics, joins ‘The Exchange’ to discuss economic headwinds, the need for a Fed pause, and the strength of the U.S. consumer. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

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Amidst growing concerns about the state of the U.S. economy, there is a glimmer of hope shining through in the form of the strength of the consumer. According to Mark Zandi, chief economist at Moody’s Analytics, the resilience and spending power of American consumers could be the key to helping the country avoid a recession.

In an interview with CNBC, Zandi shared his analysis of the current economic situation, highlighting the importance of consumer confidence and spending. “The U.S. consumer is financially healthy, and consumer spending is the primary driver of the economy,” Zandi said. “As long as the consumer remains strong, the U.S. economy should be able to stave off a recession.”

Zandi’s assessment is supported by recent data that shows robust consumer spending, low unemployment rates, and steady wage growth. The strength of the labor market has provided consumers with the means to confidently open their wallets and drive economic growth.

The consumer has indeed been a reliable pillar of support for the U.S. economy in recent years, with their spending accounting for approximately two-thirds of the country’s economic activity. Beyond their role as spenders, consumers also play a crucial role in driving business investment and overall economic confidence.

While concerns about trade tensions and global economic slowdown persist, Zandi’s optimism about the consumer’s ability to sustain economic growth is backed by solid evidence. The recent holiday shopping season, for example, saw strong sales figures, indicating that consumers are willing to open their wallets despite external economic uncertainties.

In addition, Zandi also emphasized the importance of policymakers’ actions in supporting the consumer-driven economy. “Policymakers need to remain vigilant and continue to support the economy through appropriate fiscal and monetary policies,” he noted.

Looking ahead, Zandi’s assessment suggests that the U.S. has the potential to weather global economic headwinds and avoid slipping into a recession, thanks to the strength of the consumer. However, he also cautioned that vigilance and proactive measures from policymakers are essential in maintaining the consumer’s resilience.

In conclusion, Mark Zandi’s positive outlook on the U.S. economy is encouraging, with the strength of the consumer at the forefront of his analysis. As long as the consumer remains financially healthy and confident, the U.S. economy has the potential to continue its growth trajectory and avoid a recession. By continuing to support policies that bolster consumer confidence and spending, the U.S. can harness the strength of its consumers to navigate through uncertain economic times.