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...
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.
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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.
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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.
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.
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(Today's data) will likely keep the Bank of Canada on track for a rate hike at next week's decision,
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High energy prices keep on working their way through the system. The risks remain skewed to a mild up-creep in core inflation during the months ahead, which will keep the Fed on track for another rate hike in March and likely in May.
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.
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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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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.