Unless the labor market gains some steam and momentum, both real income and confidence of consumers would be hurt.
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
The central bank put itself in a box with the top lid open so that it can change its policy quickly in response to changing economic conditions.
Sung Sohn
All the pieces are in place to generate healthy economic growth for the balance of the year, ... But so far, political and economic uncertainties have overshadowed the strengthening in corporate profits.
Sung Sohn
If they keep the word, the financial markets will like that, because the Fed has put itself in a self-imposed box. If they discard the word measured, they'll be saying they're free to do what they want.
Sung Sohn
The productivity gains have been stunning.
Sung Sohn
For every 10-percent appreciation in the dollar, it cuts inflation by one full percentage point, assuming the strength of the dollar is sustained,
Sung Sohn
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