We knew the data collected after the attack was going to be weak, but I was a little dumbfounded by the fact that the numbers even before the attack were awfully weak, ... Even before the attack, the economy seems to have relapsed into the doldrums.
More Quotes from Sung Sohn:
Employment gains are rising at a slower rate, retail sales are decelerating somewhat, the stock market is going through some turmoil and the Middle East situation is also probably having a dampening impact on consumers' willingness to spend, ... So I think the Michigan confidence report is consistent with an overall picture in which consumers are doing well, but probably taking a breather for a while.Sung Sohn
Had this report showed another plunge in confidence, then I think it would have been a sure bet to expect another cut sometime in April,
Sung Sohn
If they don't deliver, we could see a sharp sell-off in markets and a drop in consumer confidence,
Sung Sohn
The Japanese would argue that they never really intended to bend the trend of the dollar they were just trying to make sure the dollar depreciated gradually, in an orderly fashion, ... I suspect that's still their game plan.
Sung Sohn
We're looking for the wording of the Fed's statement to change in an encouraging direction. The economic numbers would argue for more optimism than caution at this point, ... My expectation is that this economy will be sizzling in the third quarter and hopefully in the fourth quarter, and that should lead to more jobs.
Sung Sohn
The productivity gains have been stunning.
Sung Sohn
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