Sung Sohn
Sung Sohn
Sung Won Sohnis a Korean American economist, noted for his skill in economic forecasting. He is currently the Martin V. Smith Professor of Economics at California State University, Channel Islands...
coffin faster implies interest nail rates
This really was the nail in the coffin for the Aug. 24 meeting, ... I think it implies interest rates will go up faster in the future.
continues deeper shows
This shows manufacturing continues to get deeper into recession,
best dollar fact fall gradual highly improving orderly outcome ruled scenario trade value
This scenario is highly unlikely, but can't be ruled out. The best outcome is a gradual and orderly fall in the value of the dollar improving the trade balance; this is in fact what has been happening.
crisis cut rate
The rate cut could be temporary, but in these times of crisis, I think it's not inappropriate,
cause confidence drop earliest economic fed growth later pause possibly quite rather until wait
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.
economy housing next period turns worst year
If the economy turns up by next spring, we should see housing doing better by then, ... Between now and the end of the year will be the worst period for housing.
beginning economy hold monetary move policy renewed september shows signs soft until
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.
below economic falling goes growth oil percent potential rate rather talking
If oil goes to $50 a barrel, I think we're talking about 3 percent economic growth, rather than 4 percent growth, possibly. And the jobless rate could actually go up, not down, because the long-term potential economic growth rate is actually 3.5 percent -- we could actually be falling below potential.
demand fast increase industry problem process simply trying waiting
The problem is the bottleneck. The industry simply is not able to process the applications fast enough. They (homeowners) are trying to refinance...But the increase in demand will simply increase the waiting list.
asked best chance december less looks percent traders weeks
Two weeks ago traders thought there was no chance. If you had asked me Thursday, I would have said less than a 50 percent chance (of a December hike), at best I would have said a 50-50 chance. Now it looks pretty likely.
baton consumers economic growth happened needs pass situation
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
bottom hit hopefully inventory rebuilding
We have probably hit the bottom in inventory liquidation, and hopefully we are actually now rebuilding inventory,
bubble east economic fed housing major messy middle unless war
I think the Fed is pretty much done for this economic cycle, unless some major catastrophe develops, such as a messy war in the Middle East or a housing bubble bursting.
assume desires mistake
I think we should know about candidates' desires and views, but I think it would be a mistake to assume that they will become reality.