We're still losing jobs, but the rate of loss is expected to slow, ... That, hopefully, will be viewed that the economy is starting to improve.
More Quotes from Sung Sohn:
If the economy does not move out of the soft patch, monetary policy could be on hold beginning September until the economy shows signs of renewed strength.Sung Sohn
This summer's energy shock will cascade through the economy. A brutal winter heating season can't be ruled out. Detroit is losing steam,
Sung Sohn
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
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
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
Dollar depreciation is good assuming it is taking place in an orderly manner. The concern is any precipitous plunge. If that were to happen the Fed would have to raise rates significantly.
Sung Sohn
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