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...
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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.
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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.
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Domestic demand remains remarkably strong, as the import data clearly indicate-a prime focus for the Fed,
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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.
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The inflation data does not take the Fed out of the picture. It does, however, remove the risk of the Fed having to tighten 50 basis points on June 30.
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The inflation data does not take the Fed out of the picture,
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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.
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What we're seeing is reminiscent of the early 1990s -- a jobless recovery.
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Worry not, the longest expansion in American history still has legs.
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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.
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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.
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This production figure emphasizes that the US economy had solid underlying momentum heading into month-end,
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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.
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Right now, the acceleration in commodity prices tips the scales for a 16th and a 17th rate hike by the Fed.