The future path for monetary policy depends critically on at least a flattening out of interest-sensitive spending, ... It is touch-and-go whether the softness in interest-sensitive spending is sufficient to be consistent with the required degree of overall economic slowing.
More Quotes from Sherry Cooper:
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.Sherry Cooper
The modest downtrend in order growth is pointing to some moderation in the months ahead.
Sherry Cooper
The Fed might have been in a dilemma if signs of slower growth were coupled with signs of a wageprice spiral. However, that is emphatically not the case. The underlying inflation outlook is not a problem for the Fed or the financial markets.
Sherry Cooper
The key here is that we anticipate what the big issues will be and that we take actions today to prevent or at least mitigate the disruption.
Sherry Cooper
Investors appear to view the growing shortfall as a natural by-product of robust U.S. growth and not a sign of flagging competitiveness, ... The concern for financial markets is that if this view ever changes, the fallout would occur rapidly.
Sherry Cooper
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.
Sherry Cooper
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