If this gets out of control all of Latin America could suffer. When Brazil sneezes, the rest of Latin America catches a cold.
More Quotes from Sung Sohn:
We've been able to have our cake and eat it too -- satisfy our demand for goods and services and at lower prices,Sung Sohn
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
Sung Sohn
Once the employment picture stabilizes, around midyear, we should see a more rapid and sustained recovery in consumer confidence.
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 committee members believe that the interest rate is too low, pointing to continuing, gradual increases in the rate. The central bank is reducing accommodation, not tightening monetary policy.
Sung Sohn
The Japanese would argue that they never really intended to bend the trend of the dollar they were just trying to make sure the dollar depreciated gradually, in an orderly fashion, ... I suspect that's still their game plan.
Sung Sohn
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