A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up
More Quotes from Sung Sohn:
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,Sung Sohn
Inventories really being run down to ground, but that means that any increase in demand in the future will be translated into more production and jobs. We're feeling the pain right now, but it means we're more likely to get economic growth starting early next year.
Sung Sohn
In the early stage of an economic recovery it is almost normal to see some volatility in consumer confidence because the jobless rate continues to rise, jarring people's confidence, ... However, all the pieces are in place to generate recovery, including healthy spending, robust housing and record low business inventories.
Sung Sohn
The stock market will remain depressed until layoffs stabilize and the resolution of the war on terrorism becomes clearer,
Sung Sohn
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
Sung Sohn
The jobless rate is the best indicator of monetary policy, ... The Fed keeps cutting rates as long as the jobless rate goes up. This time around is really no exception.
Sung Sohn
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