But give people more information, and we can incorporate it into our thinking process. We can attach and assign probabilities and then more or less go on with our normal lives. I think that's exactly what's unfolding.
More Quotes from Sung Sohn:
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.Sung Sohn
The pause in economic growth and the drop in confidence will probably cause the Fed to tighten later rather than sooner. The earliest I can see them tightening is the end of June, and they could quite possibly wait until August.
Sung Sohn
Both consumer and business confidence is depressed because of uncertainty surrounding the war, ... If we can somehow bring closure to the war situation, I would expect confidence to improve dramatically, taking with it the economy and the stock market.
Sung Sohn
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war right now, job cuts are winning.
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
Fed Chairman Alan Greenspan will have to act to boost confidence, ... Another cut at the Nov. 6 Fed policy meeting should not be ruled out, lowering the federal funds rate to 2.0 percent. Considering the weak economic outlook, the central bank will remain accommodative in the foreseeable future.
Sung Sohn
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