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...
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.
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.
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The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.
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,
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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.
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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.
bubble california economic national
If there were a bubble in California and if it were to burst, that would be a national economic catastrophe.
revision sure surprised
I'm not sure we will see a big revision in February; I won't be surprised if we do not.
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Argentina is not a potential nightmare. It's a relatively small economy compared to Mexico and Brazil.
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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.
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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.
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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.