The Fed clearly wanted to signal last week that a rate hike in December was a realistic possibility but, on balance, we still anticipate that it will be delayed until early next year. It’s recently...

The post-FOMC meeting statement released today certainly leaves open the possibility that the Fed will hike interest rates at the next meeting in December. Nevertheless, we still think that the Fed is...

The growth rate of our M3 broad money aggregate slowed to 5.0% in September butbank loans are still expanding at a healthy 7.7% clip.

The Treasury’s November 3rd deadline for raising the debt ceiling is getting closer without any sign that Congress is close to a deal to raise the limit. Yields on Treasury bills scheduled to mature...