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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While this report yielded few surprises, it simply highlights the relentless strength in the economy and provides more ammunition for the Fed to continue tightening policy,
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This production figure emphasizes that the US economy had solid underlying momentum heading into month-end,
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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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Worry not, the longest expansion in American history still has legs.
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There is good financial-market news everywhere you look in this report.
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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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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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We wouldn't want everyone to go running out and dump all their investments and bury cash in their mattresses, because it would only accelerate the crisis - at least the financial crisis. But I don't believe people would do that anyway.