WELLS FARGO'S SOHN NAMED ONE OF MOST ACCURATE U.S. ECONOMISTS
SAN FRANCISCO — October 29, 2001
Dr. Sung Won Sohn, Wells Fargo chief economist, has been identified by Bloomberg Markets as one of the five most accurate U.S. economists. Since 1999, Sohn has consistently lead his peers in the area of Gross Domestic Product (GDP).
Years of experience and clues he collects from a network of Wells Fargo customers, contribute to Sohn's accurate predictions for the direction of the U.S. economy. His forecasts of quarterly GDP, which is estimated by the Commerce Department, have generated an accuracy rating of 70.9 percent. "I talk to customers from every industry to get a feel for consumer spending," said Sohn. From these conversations he gathers good information and also gets advance information before it shows up in national statistics.
"It's wonderful to have an expert like this on our team," said Jim Campbell, Wells Fargo Minnesota Banking Group executive vice president. "From Dr. Sohn's updates, we can provide our customers with valuable economic information as it affects their personal finances or business."
Sohn joined Wells Fargo (formerly Norwest Bank) in 1974. Prior to that, Sohn served as chief economist on President Richard Nixon's Council of Economic Advisors.
Wells Fargo & Company is a diversified financial services company with $298 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,400 stores and the Internet (wellsfargo.com ) across North America and elsewhere internationally.