The deflation concerns give ammunition to the president's tax cut,
More Quotes from Sung Sohn:
This summer's energy shock will cascade through the economy. A brutal winter heating season can't be ruled out. Detroit is losing steam,Sung Sohn
The loss of confidence in the financial reporting of Corporate America could hurt both consumer and business spending, ... The reduced availability and higher cost of credit, as well as the desire to strengthen the balance sheet, could cause firms to postpone capital spending plans and accelerate layoffs.
Sung Sohn
If it weren't for the terror attacks, we would have avoided a recession, and Fed Chairman Greenspan would have been credited for another soft landing. Given the information the Fed had in 1999 and 2000, they did the right things.
Sung Sohn
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
Sung Sohn
This is what economists call a simultaneous process, meaning that it works both ways.
Sung Sohn
I think we should know about candidates' desires and views, but I think it would be a mistake to assume that they will become reality.
Sung Sohn
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