Jan
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Jan. 4 (Bloomberg) — The commercial real estate market poses a threat to the U.S. recovery, said John Ryding, chief economist at RDQ Economics in New York.
“We have yet to see the full extent of those problems,” Ryding said today in an interview on Bloomberg Radio.
The housing market, which plunged the economy into recession, remains fragile, too, Ryding said.
“Maybe housing credit has gotten ahead of itself,” he said. “I don’t think were out of the woods yet on the write-off situation.”
Regarding the labor market, “our feeling is we will see a small positive number” in the government’s report on non-farm payrolls in December, Ryding said. He didn’t provide an estimate.
He also said the Federal Reserve’s “easy policy stance is going to boost inflation expectations.” The Fed has held its benchmark rate near zero since December 2008.
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