Sherry Cooper
Sherry Cooper
Sherry S. Cooperis a Canadian-American economist. Cooper is currently Chief Economist for Dominion Lending Centres. She was Executive Vice-President and Chief Economist of BMO Financial Group, with responsibilities for economic forecasting and risk assessment. She comments regularly in the press on financial issues...
number quite weak
So I don't think the number was quite as weak as the headline.
appears basis believes hike odds point rate
Right now, it appears that the (Fed) believes that the odds are better than 50-50 that another 25 basis point rate hike will be warranted.
economy figure heading momentum production solid underlying
This production figure emphasizes that the US economy had solid underlying momentum heading into month-end,
affected along caused damage deployed direct drag fleeting impact katrina massive might money offset prove provide suggest ultimate
This will provide some offset to the drag caused by the hurricane's direct damage and flooding, which, along with the massive amounts of money being deployed in the affected area, suggest that the ultimate impact of Katrina on GDP might prove more fleeting than first thought.
assessment diminish dual following hikes inflation looking market meeting open passing rate recall risk
Recall the Fed's assessment following the (Federal Open Market Committee) meeting on Aug. 24, that the dual summertime rate hikes 'should markedly diminish the risk of inflation going forward,' ... This call is looking more tenuous with every passing day.
activity additional brings buildings gradually provide quarters starts support
Starts at year-end 2003 will provide additional support for GDP during the first two quarters of 2004 as construction activity gradually brings these buildings to completion.
indeed proving
June's swoon is indeed proving to be temporary.
activity becoming beginning bite evident higher housing impact interest pushed rates result sign start weakness
It is becoming more evident that higher interest rates are beginning to take a bite out of the red-hot housing market, ... While today's housing start result exaggerated weakness in the sector, it is yet another sign that the impact of higher rates has pushed housing activity off its peak.
clearly results trend underlying
January's results were clearly exaggerated, but the underlying trend is still surprisingly healthy.
commodity hike prices rate scales tips
Right now, the acceleration in commodity prices tips the scales for a 16th and a 17th rate hike by the Fed.
affects certainly effect far half happening job market psychology starts
It certainly affects psychology, but if the job market starts growing, that effect is far more important to psychology than something that's happening half a world away.
ahead deficit domestic drive further given higher imports likely months oil prices trade widening
Further widening in the trade deficit in the months ahead is very likely given that the surge in oil prices will drive imports higher and that there has been no let-up in the domestic economy.
bond data fed good including inflation news pass raise relatively remain stock
If the incoming data remain relatively soft, including the inflation data, the Fed will take a pass in August, ... Even if they do raise rates, it may well be the end of the tightening cycle, which is very good news for the stock and bond markets.
everywhere good news
There is good financial-market news everywhere you look in this report.