The Fed is still likely to cut rates in August. Some of the more important measures of economic strength, such as corporate profits, are moving in the wrong direction. The only real question is whether they'll cut a quarter percentage point or a half percentage point.
More Quotes from Sung Sohn:
We're still losing jobs, but the rate of loss is expected to slow, ... That, hopefully, will be viewed that the economy is starting to improve.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
Dollar depreciation is good assuming it is taking place in an orderly manner. The concern is any precipitous plunge. If that were to happen the Fed would have to raise rates significantly.
Sung Sohn
We're looking for the wording of the Fed's statement to change in an encouraging direction. The economic numbers would argue for more optimism than caution at this point, ... My expectation is that this economy will be sizzling in the third quarter and hopefully in the fourth quarter, and that should lead to more jobs.
Sung Sohn
The rate cut could be temporary, but in these times of crisis, I think it's not inappropriate,
Sung Sohn
The central bank runs the risk of raising the interest rate too fast. Historically, the central bank had overreacted to inflationary pressures, contributing to economic recessions.
Sung Sohn
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