Customers we talk to are saying they're going to respond to increasing demand, but they won't do anything in anticipation of increasing demand, ... That's why employment, inventories and manufacturing will move in positive directions, but I don't think it will be anything spectacular.
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
In the summertime, we have a lot of plant shutdowns, especially in the auto industry. Despite that, we saw a drop in initial claims, ... That's indicating that the employment market has not only stabilized, but has begun to improve slightly.
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
And now that the economy is improving, people have greater confidence to make purchases and build homes.
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
The pause in economic growth and the drop in confidence will probably cause the Fed to tighten later rather than sooner. The earliest I can see them tightening is the end of June, and they could quite possibly wait until August.
Sung Sohn
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