Mark Zandi on the economy

Guest: Mark Zandi

President Obama has nominated Federal Reserve Vice Chair Janet Yellen to be the next Fed chief, and if confirmed, she will be the first woman hold the world’s most powerful economic post.  But right now the economic outlook for the U.S. doesn’t look so good.  The government shutdown is nearing week two and some say the economy is slowing as a result of this impasse over the budget.  The debt ceiling deadline is also approaching and the threat of default is growing.  So what effect is all this having on the economy?  We’ve asked Moody’s Analytics chief economist MARK ZANDI to come in and explain how the dysfunction in Washington is affecting the U.S. economy and the Yellen nomination.