Hopefully, by August (when the Fed next meets), we should have a pretty good idea that the economy is expanding. A tax rebate and earlier cuts will be working. If the Fed cuts in August, we will worry more about them overdoing it.
More Quotes from Sung Sohn:
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going upSung Sohn
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war right now, job cuts are winning.
Sung Sohn
The stock market will remain depressed until layoffs stabilize and the resolution of the war on terrorism becomes clearer,
Sung Sohn
It clearly tells us that consumers have and will continue to sustain and support economic growth, ... Consumers have really been the backbone of current economic growth and will continue to be a stabilizer for the balance of this year.
Sung Sohn
By the time the election is over, the Fed might be in a position to increase rates more aggressively. In 2005, we might see rates going up more than a quarter (percentage point) every other month.
Sung Sohn
Unless the labor market gains some steam and momentum, both real income and confidence of consumers would be hurt.
Sung Sohn
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Based on Topics: Business & Commerce Quotes, Tax QuotesYou miss 100% of the shots you don't take.
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Bodhidharma
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