The markets remain sceptical that the Fed will continue to normalise interest rates over the next couple of years. But even with inflation still below target, the simple policy rules that the Fed...

The apparent failure of the Senate Republicans to agree on a health care bill to replace Obamacare does not mean that President Donald Trump’s plans for a fiscal stimulus are dead and buried.

Markets focused this week on supposedly dovish comments in Fed Chair Janet Yellen’s semi-annual testimony to Congress, but in truth she did little more than repeat the existing Fed line. As long as...

The recent drop back in core inflation, even as the unemployment rate has fallen further, adds to the evidence that the Phillips curve has flattened. The reduced sensitivity of inflation to shifts in...