I don't think businesses will hire more people in anticipation of higher demand. They want to see demand first. They feel they have the flexibility to increase production without hiring people.
More Quotes from 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
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
Sung Sohn
A quarter-point cut Tuesday could weaken confidence by reinforcing pessimism in the market place, ... Instead, Fed Chairman Greenspan should stand pat, sending a positive message that economic recovery is in sight and no additional monetary stimulus is needed.
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
How so many people went so far astray from the mainstream and were wrong is probably unprecedented,
Sung Sohn
There is no reason for the Fed to deviate away from the cautious policy approach, ... The central bank won't raise the interest rate until August or later.
Sung Sohn
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Oscar Hammerstein II
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Citium Zeno
You must be the change you wish to see in the world.
Mohandas Gandhi