Sung Sohn Monetary Quotations

Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.

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.

Our research shows the jobless rate is the best indicator of monetary policy, ... They have almost perfect correlation.

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.

Clearly, the economic fundamentals of monetary and fiscal policies, as well as the falling value of the dollar, support a recovery. What we're not sure of is how strong the recovery is going to be.

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.

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.