Mark Zandi, Chief Economist of Moody's MCO -0.2% Analytics, doesn't get it. Like most economists today he looks at the world through the lens of a Keynesian economist. Through that lens, owing to the easy monetary policies of an enlightened Federal Reserve, he thinks the U.S. economy is finally in recovery mode. Only one hurdle left - a "graceful" exit from those easy monetary policies. We say not a chance.

On CNBC's Closing Bell this past Friday, September 26th, Zandi gave an interview to Kelly Evans, co-anchor of the Closing Bell, making his case for blue skies ahead. The interview begins with this question from Evans...

Do you think we can count on sustained, strong growth from here now finally?

Zandi answers with confidence...

Yeah, I do.

Then after waxing on about the improving economic numbers and his expectations for even better numbers going forward, Evans, with a bit of giddiness, asks...

Mark, is there anything you are worried about?

Zandi responds...

It is clear that the Fed has a lot of work to do here... My baseline world view is that they can allow interest rates to rise, both short-term and long-term interest rates to rise consistently with the improvement in the job market.

Zandi, showing some pause, goes on to say...

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