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...
everybody hike increase rates sooner until
For a while, everybody thought there would be no increase until year-end. They may hike rates sooner than we realize.
close
It's going to be very close to zero.
almost economic economy jobs per producing recovery terrible three
This is a terrible number. The economic recovery is almost three years old, and the economy should be producing 200,000 to 300,000 jobs per month.
both call economists meaning works
This is what economists call a simultaneous process, meaning that it works both ways.
fed possible quite raise turn
It's quite possible the Fed will have to turn around and raise rates.
businesses demand higher hire hiring increase people production
I don't think businesses will hire more people in anticipation of higher demand. They want to see demand first. They feel they have the flexibility to increase production without hiring people.
beyond deficit goes lead spending
If deficit spending goes well beyond 2005, 2006, 2007 or 2008, it will lead to crowding out,
astray far mainstream people wrong
How so many people went so far astray from the mainstream and were wrong is probably unprecedented,
august cuts earlier economy fed good next overdoing tax worry
Hopefully, by August (when the Fed next meets), we should have a pretty good idea that the economy is expanding. A tax rebate and earlier cuts will be working. If the Fed cuts in August, we will worry more about them overdoing it.
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.
stopped television terror watching
Immediately after the terror attacks, we were shell-shocked and stopped doing everything but watching television,
fed might people raising rapidly slowly starts suspect
Once the Fed starts raising rates, I suspect they might go up more rapidly than a lot of people realize. Many of us think the Fed will do things slowly and gradually. In fact, they usually do things pretty quickly.
consumer employment picture rapid recovery sustained
Once the employment picture stabilizes, around midyear, we should see a more rapid and sustained recovery in consumer confidence.
corporate cuts economic impact months tax until
The corporate tax cuts may not have an economic impact until months later.