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...
bedrock confidence consumer jobs spending
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
coming confidence cuts gains high job negatives offset remains sales
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war; right now, job cuts are winning.
almost economic economy jobs per producing recovery terrible three
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.
both jobs sent service time
More and more jobs, both manufacturing and service jobs are sent overseas; these jobs won't come back any time soon.
increases jobs monetary policy unless until
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
economy expected jobs losing loss rate starting viewed
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.
jobs labor market translate
Clearly, the labor market is improving, and this should translate into more jobs in the future,
economy job market woods
The economy and the job market are not out of the woods yet,
affects begin fed future inflation issue monetary months policy rate worry
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.
stopped television terror watching
Immediately after the terror attacks, we were shell-shocked and stopped doing everything but watching television,
fed might people raising rapidly slowly starts suspect
Once the Fed starts raising rates, I suspect they might go up more rapidly than a lot of people realize. Many of us think the Fed will do things slowly and gradually. In fact, they usually do things pretty quickly.
consumer employment picture rapid recovery sustained
Once the employment picture stabilizes, around midyear, we should see a more rapid and sustained recovery in consumer confidence.
corporate cuts economic impact months tax until
The corporate tax cuts may not have an economic impact until months later.
bullish holiday people shopping
I'm not bullish on the holiday shopping season, but I'm not as bearish as some people have been.