Sung Won Sohn
Sung Won Sohn | |
|---|---|
| Nationality | Korean American |
| Alma mater | University of Florida University of Pittsburgh |
| Known for | Being a world renowned economist |
Sung Won Sohn is a renowned Korean American economist. He was named one of the top five most accurate economic forecaster in 2001 by Bloomberg News. Sohn studied economics at the University of Florida and earned a Ph.D. in Economics from the University of Pittsburgh.
Sung Won Sohn was a senior economist on the President's Council of Economic Advisors during the Nixon administration, where he was responsible for economic and legislative matters pertaining to the Federal Reserve and financial markets.
Afterwards, he went to work for Wells Fargo, where he was the chief economist and Executive Vice President. After working as President and CEO of Hanmi Financial Corp in Los Angeles, Mr. Sohn is now working as CEO of a fashion company in the Los Angeles, California.
On Wednesday, September 17, 2008 Sohn was quoted by the Associated Press: "The economy is not short of money, it is short of confidence". Considering the fact that the Federal Reserve creates "money" out of thin air (without the backing of any real commodity), this statement attributed to Sohn, who was once (as stated above) a senior economist on the President's Council of Economic Advisors during the Nixon administration, where he was responsible for economic and legislative matters pertaining to the Federal Reserve and financial markets, was not quite understood by skeptics of Sohn's expertise.
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