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...
auto begun despite drop employment improve initial market plant saw
In the summertime, we have a lot of plant shutdowns, especially in the auto industry. Despite that, we saw a drop in initial claims, ... That's indicating that the employment market has not only stabilized, but has begun to improve slightly.
argue bend dollar game intended japanese orderly sure suspect trend trying
The Japanese would argue that they never really intended to bend the trend of the dollar; they were just trying to make sure the dollar depreciated gradually, in an orderly fashion, ... I suspect that's still their game plan.
effect net
I don't think the net effect would be positive,
revision sure surprised
I'm not sure we will see a big revision in February; I won't be surprised if we do not.
argentina compared economy mexico potential relatively small
Argentina is not a potential nightmare. It's a relatively small economy compared to Mexico and Brazil.
breakdown buying crises economic few generally gulf lasting looking market matter nervous political president stock
Historically, economic and political crises have been buying opportunities. Looking at 17 crises, ranging from President Wilson's nervous breakdown to the Gulf War, the stock market setback generally has been a short-term matter lasting no more than a few months.
bubble east economic fed housing major messy middle unless war
I think the Fed is pretty much done for this economic cycle, unless some major catastrophe develops, such as a messy war in the Middle East or a housing bubble bursting.
basis continuing greenspan hiking improved interest labor market months peak rate sure waited
Greenspan has to make sure the labor market has improved on a continuing basis before he can even think about hiking interest rates. For example, in 1992, he waited 17 months after the peak of the unemployment rate before hiking interest rates.
bedrock confidence consumer jobs spending
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
cylinders economy fired
The economy fired on all cylinders in January.
affects begin fed future inflation issue monetary months policy rate worry
Inflation is not an issue right now. However, it could be in the future. The Fed will begin to worry about inflation because monetary policy affects the inflation rate with a lag of as much as 18 months to two years, so they need to worry about it now.
adding boost businesses confidence economic employers employment expansion hire hours people per trying
Businesses have regained confidence in the sustainability of this economic expansion and have started to hire people in earnest. Employers are trying to boost employment by adding more workers, not more hours per worker.
confidence consumer consumers economic higher keeping numbers rattle reasons ship spending though
That's one of the reasons why consumers are not going on a spending spree, though they're keeping the economic ship afloat. When higher unemployment numbers come out, that will probably rattle consumer confidence a bit.
customers increasing move positive respond saying talk
Customers we talk to are saying they're going to respond to increasing demand, but they won't do anything in anticipation of increasing demand, ... That's why employment, inventories and manufacturing will move in positive directions, but I don't think it will be anything spectacular.