Moody’s Chief Economist: We Need More Oil Production and Profits are 'Great Incentive' for That, Gouging Isn't Causing Inflation

On Thursday's broadcast of CNN's "Early Start," Moody's Analytics Chief Economist Mark Zandi stated that he doesn't give any weight to the argument that price gouging is causing inflation and argued that profits by oil companies "have a purpose. They're a great incentive for these companies to go out and put more rigs in the ground and produce more oil and get those prices back down."