Fed Chairman Alan Greenspan would like to see employment gains of 150,000 or more jobs for a few months before dropping the words, 'considerable period'.
More Quotes from Sung Sohn:
More and more jobs, both manufacturing and service jobs are sent overseas these jobs won't come back any time soon.Sung Sohn
Both consumer and business confidence is depressed because of uncertainty surrounding the war, ... If we can somehow bring closure to the war situation, I would expect confidence to improve dramatically, taking with it the economy and the stock market.
Sung Sohn
Greenspan has to make sure the labor market has improved on a continuing basis before he can even think about hiking interest rates. For example, in 1992, he waited 17 months after the peak of the unemployment rate before hiking interest rates.
Sung Sohn
The productivity gains have been stunning.
Sung Sohn
Once the employment picture stabilizes, around midyear, we should see a more rapid and sustained recovery in consumer confidence.
Sung Sohn
I doubt that, just based on Friday's number, they'll pull the trigger. They'll want to see a sustained period of inflation before they do that.
Sung Sohn
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