The great post-Katrina inflation scare has vanished, with gasoline prices coming back down to Earth and core inflation on track to match the Bank of Canada's latest estimate of 1.6 per cent for Q4.
More Quotes from 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
If the incoming data remain relatively soft, including the inflation data, the Fed will take a pass in August, ... Even if they do raise rates, it may well be the end of the tightening cycle, which is very good news for the stock and bond markets.
Sherry Cooper
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.
Sherry Cooper
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.
Sherry Cooper
I do believe there is still evidence that the economy is red hot, and I think the Federal Reserve will be monitoring the income numbers closely to decide whether to go 25 basis points or 50 at their upcoming policy meeting.
Sherry Cooper
No surprises for the bank, so no shift in the policy program.
Sherry Cooper
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