For every 10-percent appreciation in the dollar, it cuts inflation by one full percentage point, assuming the strength of the dollar is sustained,
More Quotes from Sung Sohn:
If you want to really help the economy right away, the fastest way to do that is to have the government spend the money itself, ... The next step would be to give tax cuts to low- and middle-income people, who are more likely to spend the money.Sung Sohn
Employment gains really haven't come from full-time workers. They're coming primarily from part-time, temporary help, ... Businesses are still trying to maintain flexibility by not hiring more expensive, full-time workers. That might be one of the reasons why we're seeing an increase in continued claims.
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
But give people more information, and we can incorporate it into our thinking process. We can attach and assign probabilities and then more or less go on with our normal lives. I think that's exactly what's unfolding.
Sung Sohn
If prices remain where they are, and the rest of the economy performs well, that won't be the end of the world,
Sung Sohn
The jobless rate is the best indicator of monetary policy, ... The Fed keeps cutting rates as long as the jobless rate goes up. This time around is really no exception.
Sung Sohn
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