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...
activity becoming beginning bite evident higher housing impact interest pushed rates result sign start weakness
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.
age-and-aging average birth increase population rates
Birth rates would plunge and the average age of the population would increase significantly.
change inflation low months outlook rates report view
This report will not change the Fed's view on the inflation outlook -- they will keep rates low for still some months to come.
cent continue fed feels funds likely moved neutral overnight per policy raise rates until
My take is that the Fed will continue to raise overnight rates until it feels it has moved from a stimulative to a neutral policy stance. That will likely take the funds rate to 4 per cent-to-4.25 per cent by yearend.
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.
clearly results trend underlying
January's results were clearly exaggerated, but the underlying trend is still surprisingly healthy.
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.
commodity hike prices rate scales tips
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.
indeed proving
June's swoon is indeed proving to be temporary.
affects certainly effect far half happening job market psychology starts
It certainly affects psychology, but if the job market starts growing, that effect is far more important to psychology than something that's happening half a world away.
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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.
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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.
activity additional brings buildings gradually provide quarters starts support
Starts at year-end 2003 will provide additional support for GDP during the first two quarters of 2004 as construction activity gradually brings these buildings to completion.