Sung Sohn
Sung Sohn
Sung Won Sohnis a Korean American economist, noted for his skill in economic forecasting. He is currently the Martin V. Smith Professor of Economics at California State University, Channel Islands...
cake demand eat goods lower satisfy services
We've been able to have our cake and eat it too -- satisfy our demand for goods and services and at lower prices,
balance boost current economic inventory
We're going to get an economic boost from not only production, but from inventory buildup during the current quarter, and probably for the balance of this year.
businesses economy fiscal huge lacking money package spending stimulus takes
What's lacking is confidence, so businesses aren't spending the money they have, ... That's why I don't necessarily think it takes a huge fiscal stimulus package to get the economy moving.
both confidence consumers gains income labor market steam unless
Unless the labor market gains some steam and momentum, both real income and confidence of consumers would be hurt.
confidence consumer fairly layoffs mounting point spending weak
The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.
increases jobs monetary policy unless until
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
bottom hit hopefully inventory rebuilding
We have probably hit the bottom in inventory liquidation, and hopefully we are actually now rebuilding inventory,
baton consumers economic growth happened needs pass situation
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
economy expected jobs losing loss rate starting viewed
We're still losing jobs, but the rate of loss is expected to slow, ... That, hopefully, will be viewed that the economy is starting to improve.
argue caution change economic economy expectation fourth hopefully lead looking numbers optimism quarter statement third
We're looking for the wording of the Fed's statement to change in an encouraging direction. The economic numbers would argue for more optimism than caution at this point, ... My expectation is that this economy will be sizzling in the third quarter and hopefully in the fourth quarter, and that should lead to more jobs.