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...
assuming fed finished markets might prove wait
The markets are assuming that the Fed are finished tightening for the year, ... That presumption might prove to be premature. We, and the Fed, will wait and see.
corporate inflation pricing remains virtually
Inflation in the U.S. remains virtually non-existent, as does corporate pricing power.
good happening prices rising seems vibrant
In a vibrant economy, you will always have some prices rising and some falling. That's a good thing, and that's what seems to be happening at this stage.
biggest emergency energy gas meaningful natural prices risk
The biggest risk (to energy supplies) is natural gas prices because there is no meaningful emergency inventory,
dip good hope looking maybe pick production sign stage
The big dip in inventories is a good sign if we are looking for a glimmer of hope here. Maybe we are at a stage where production can pick up again.
bank distant divert focus gradual inflation likely rising seems threat wage
The bank's new focus is likely to be on rising wage pressures, but that still seems a distant inflation threat at this point. On balance, there is nothing here to divert the bank from its gradual tightening course.
economy growth hallmark key reinforce reports stable underlying
These two key reports reinforce the underlying story of red-hot growth and stable inflation, which was the hallmark of the U.S. economy in 1999,
dilemma fed financial growth inflation might outlook problem signs slower underlying
The Fed might have been in a dilemma if signs of slower growth were coupled with signs of a wage/price spiral. However, that is emphatically not the case. The underlying inflation outlook is not a problem for the Fed or the financial markets.
either fear fed few impending inflation markets reason signs slowing
The Fed and the markets will see few signs of slowing in these figures, but little reason to fear an impending inflation acceleration either ,
birds canadian dependent exports forcing industry poultry practice provincial raising rules
The Canadian poultry industry is, in general, little dependent on exports or imports, but new provincial rules forcing the confinement of birds make the practice of free-range raising more difficult.
annual bound bring christmas consumer growth likely might nearly next pace percent rate season spending year
The Christmas season this year might well bring cheer, but consumption growth next year is bound to slow, ... From an annual pace of nearly 4.0 percent in 2004, consumer spending will likely grow at a 3.5 percent rate this year, decelerating to a 2.25 percent pace in 2006.
asset cause easy ended fed inflation interest per raise rates worried
I'm not worried about inflation per se ; I'm worried about inflation in asset prices. When the Fed has been aggressively easy in the past, it's ended up having to come in and aggressively raise interest rates and cause a lot of unnecessary dislocation.
policy shift surprises
No surprises for the bank, so no shift in the policy program.
armed commodity concern emerge heading inflation likely pressure prices rising weaker
Armed with the weaker U.S. dollar, commodity prices heading north, and a strengthening economy, rising inflation pressure is still likely to emerge as a concern for the Fed. But not yet. Not yet.