21 Quotes by Avery Shenfeld

Whenever you have a situation where inflation is not a material risk and the economy is underperforming, you should be thinking about a rate cut. There's a potential reward and not much risk.

Central banks continue to be guided by macroeconomic models that relate to an economy that no longer exists.

Given all the leverage that the household sector has built up, their confidence in rising home equity has been an important part of their willingness to take on all that (mortgage) debt.

If, as we expect, the economy were to show signs of a slowing by May, the Fed will want to give it the benefit of the doubt by standing pat at that point.

Looking only at 'affected areas' could understate the storm impacts, due to linkages between ports and more distant facilities.... we know that jobless claims have fallen off sharply as we moved past the storm impacts, another hint of underlying labor market vitality.

Look for the Fed to leave its poker-face statement unchanged.

This was a month in which a number of one-time events conspired to mask the true strength of the economy.

We've had a run of fairly positive reports out of the major banks, so financials continue to do well and they have a heavy weight in the Toronto index.

We expect the combination of a U.S. growth moderation and the lagged impacts of a strong Canadian dollar on factory employment to do a lot of the work in engineering that cooling in Canadian hiring, leaving the Bank of Canada with only another 50 basis points in rate hikes.