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...
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The economy has settled into a sustainable, self-reinforcing growth path, ... All major categories of the economy have contributed to economic growth. Now that businesses have begun to add to payrolls, the current expansion is self-reinforcing. Only external shocks, such as terrorist attacks or a surge in oil prices, could derail the recovery.
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The economy fired on all cylinders in January.
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The economy continues to grow with fewer people working. How long can we squeeze juice out of this orange? Not indefinitely. Sooner or later economic growth would suffer.
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The economy and the job market are not out of the woods yet,
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The central bank runs the risk of raising the interest rate too fast. Historically, the central bank had overreacted to inflationary pressures, contributing to economic recessions.
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The central bank put itself in a box with the top lid open so that it can change its policy quickly in response to changing economic conditions.
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The committee members believe that the interest rate is too low, pointing to continuing, gradual increases in the rate. The central bank is reducing accommodation, not tightening monetary policy.
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And now that the economy is improving, people have greater confidence to make purchases and build homes.
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All the pieces are in place to generate healthy economic growth for the balance of the year, ... But so far, political and economic uncertainties have overshadowed the strengthening in corporate profits.
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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.
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The loss of confidence in the financial reporting of Corporate America could hurt both consumer and business spending, ... The reduced availability and higher cost of credit, as well as the desire to strengthen the balance sheet, could cause firms to postpone capital spending plans and accelerate layoffs.
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The jobless rate is the best indicator of monetary policy, ... The Fed keeps cutting rates as long as the jobless rate goes up. This time around is really no exception.
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Inflation is not an issue right now. However, it could be in the future. The Fed will begin to worry about inflation because monetary policy affects the inflation rate with a lag of as much as 18 months to two years, so they need to worry about it now.
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Immediately after the terror attacks, we were shell-shocked and stopped doing everything but watching television,