What's lacking is confidence, so businesses aren't spending the money they have, ... That's why I don't necessarily think it takes a huge fiscal stimulus package to get the economy moving.
More Quotes from Sung Sohn:
Inventories really being run down to ground, but that means that any increase in demand in the future will be translated into more production and jobs. We're feeling the pain right now, but it means we're more likely to get economic growth starting early next year.Sung Sohn
Manufacturing could be a key driver of economic growth in the future, as opposed to being a big drag as we've seen in the past, ... Even employment, which has been weak, should be coming around as demand continues to pick up steam.
Sung Sohn
We notice it every day -- when we go to gasoline stations, we pay more,
Sung Sohn
Without a doubt, there will be a contraction in the third quarter's GDP of approximately 0.9 percent, ... Given the slow start in October, the most likely scenario calls for a larger contraction in the 2.8-percent range in the fourth quarter.
Sung Sohn
There is no reason for the Fed to deviate away from the cautious policy approach, ... The central bank won't raise the interest rate until August or later.
Sung Sohn
It boils down to housing affordability mortgage rates have risen, but they're still historically very low, ... We're continuing to see people who had been sitting on the fence jumping in to take advantage of these low rates before they go back up.
Sung Sohn
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