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.
More Quotes from Sung Sohn:
If it weren't for the terror attacks, we would have avoided a recession, and Fed Chairman Greenspan would have been credited for another soft landing. Given the information the Fed had in 1999 and 2000, they did the right things.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
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.
Sung Sohn
This is a terrible number. The economic recovery is almost three years old, and the economy should be producing 200,000 to 300,000 jobs per month.
Sung Sohn
How so many people went so far astray from the mainstream and were wrong is probably unprecedented,
Sung Sohn
This economic indicator continues the string of statistical signs supporting the current Federal Reserve stance, ... The recovery seems to continue, but it is still too weak to generate sufficient payroll growth for inflationary pressure.
Sung Sohn
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