And now that the economy is improving, people have greater confidence to make purchases and build homes.
More Quotes from Sung Sohn:
More and more jobs, both manufacturing and service jobs are sent overseas these jobs won't come back any time soon.Sung Sohn
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.
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
In a similar vein, the world is looking to the U.S. to lead a global recovery. Clearly, the U.S. economy was and still is the locomotive pulling the world economy, ... All across Asia, Latin America, everywhere I go, they are looking to the United States for recovery.
Sung Sohn
A quarter-point cut Tuesday could weaken confidence by reinforcing pessimism in the market place, ... Instead, Fed Chairman Greenspan should stand pat, sending a positive message that economic recovery is in sight and no additional monetary stimulus is needed.
Sung Sohn
It will have some positive effect, but I don't think there's a strong conviction the stock market rally is going to be sustained. No one is really cashing it in and beginning to spend more money.
Sung Sohn
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