Had this report showed another plunge in confidence, then I think it would have been a sure bet to expect another cut sometime in April,
More Quotes from Sung Sohn:
Businesses are going to be waiting and seeing. The most important factor is how consumers behave, ... The cost of capital is important, but in the final analysis, you've got to sell products. If you're not going to sell products, you're not going to need capacity.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 deflation concerns give ammunition to the president's tax cut,
Sung Sohn
That's one of the reasons why consumers are not going on a spending spree, though they're keeping the economic ship afloat. When higher unemployment numbers come out, that will probably rattle consumer confidence a bit.
Sung Sohn
Probably the overall (CPI) number will be somewhat higher than anticipated, but like PPI, the core-number should be close to forecasts,
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
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