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...
certainly continued deep doubt economy expect growth longer question recession shadow slower
There is no longer a shadow of doubt that the U.S. economy is downshifting rapidly; the only question is how deep the slowdown goes, ... We do not expect to see recession in 2001, but we certainly expect to see significantly slower growth with continued moderating inflation.
eventually hike last likely next rate remain unwind view work
We remain of the view that next week's rate hike will not be the Fed's last work this cycle. Indeed, they will likely eventually unwind all of last fall's crisis-induced easing.
early seeing
What we're seeing is reminiscent of the early 1990s -- a jobless recovery.
action begin businesses capability certainly company data dramatic face larger percent seen serious small taken taking
What little data I've seen suggests that only about 25 percent of businesses have taken deliberate, serious action. And certainly the larger corporations would be the ones that would begin the process. Let's face it, a small company probably would not have the capability of taking very dramatic action.
expansion history longest worry
Worry not, the longest expansion in American history still has legs.
certainly employment growth rate second though
Today's US employment report, though not a blockbuster, certainly portends at least a 3% growth rate in the second quarter.
activity healthy industrial
U.S. industrial activity is improving, but it can't be described as healthy just yet.
bit comfort employment hot low quite rate remains running trend underlying wages
Wages are still running a bit hot for comfort, the jobless rate is still quite low and the underlying trend in employment (especially full-time) remains strong.
buying opportunity percent yield
When the 10-year yield got to 4.4 percent Tuesday, I said this was probably a short-term buying opportunity and that we would see some correction.
data easing fed financial further stuff sure trends whispers
While we would not get too excited, these data are just the right stuff to further trends already under way in financial markets. Whispers about Fed easing are sure to follow.
entered lots quarter report robust second sector
Today's report indicates that the sector is still robust and entered the second quarter with lots of momentum.
consumer despite equity evidence growing hanging market oil prices viewed
Overall, this can be viewed as more evidence that the consumer is hanging in well despite the run-up in oil prices and growing equity market volatility.
bank canada hike likely next rate track
(Today's data) will likely keep the Bank of Canada on track for a rate hike at next week's decision,
apply consumer cooling housing job offset sector
The cooling U.S. housing sector should apply a dampener to consumer spending... but some of this could be offset by still-decent job growth.