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.
More Quotes from 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
About six months ago, there was really no concern, and I think it makes sense to be concerned.
Sherry Cooper
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.
Sherry Cooper
All in all, the year-over-year trend in income jumped to 6.1 percent from 5.4 percent, suggesting that consumer fundamentals remain very strong, ... Consumer spending remains on a tear.
Sherry Cooper
I do think, however, that it is very important that we, as individuals, protect ourselves that businesses make contingency plans and that governments at all levels public health officials everywhere do what is necessary to minimize the danger of a potential pandemic.
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
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