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...
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There is no reason for the Fed to deviate away from the cautious policy approach, ... The central bank won't raise the interest rate until August or later.
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This shows manufacturing continues to get deeper into recession,
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This really was the nail in the coffin for the Aug. 24 meeting, ... I think it implies interest rates will go up faster in the future.
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This really was the nail in the coffin for the Aug. 24 meeting. I think it implies interest rates will go up faster in the future.
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Without a doubt, there will be a contraction in the third quarter's GDP of approximately 0.9 percent, ... Given the slow start in October, the most likely scenario calls for a larger contraction in the 2.8-percent range in the fourth quarter.
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This time around, my guess is that the lead may end up being shorter than the historic average, ... I wouldn't rule out the possibility of the stock market being an almost coincident indicator.
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To me, the key indicator is employment. We need to see at least three months of pretty hefty increases in employment before we'll be able to say we're out of woods,
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Washington will pump massive amounts of aid into the Katrina-affected areas boosting economic activities.
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We knew the data collected after the attack was going to be weak, but I was a little dumbfounded by the fact that the numbers even before the attack were awfully weak, ... Even before the attack, the economy seems to have relapsed into the doldrums.
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The problem is that the stock market tends to predict downturns or upturns too early. The common joke is that the stock market predicted 11 out of the last 9 recessions.
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Without the terrorist attacks, we would be experiencing economic recovery in this quarter.
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Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
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The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.
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We've been able to have our cake and eat it too -- satisfy our demand for goods and services and at lower prices,