As Fed officials left their interest rate projections for this year unchanged, it appears that the FOMC is still on course for a September lift-off. The 0.63% median of those projections implies that...

The conventional wisdom is that consumers have remained unusually cautious during this recovery. But between the middle of last year and the middle of this year, consumption appears to have been...

The latest NFIB and JOLT surveys illustrate that the bigger than expected gain in employment in May was no fluke. Labour market conditions are strengthening and wage growth will accelerate further.

The news last week that first-quarter productivity slumped while unit labour costs soared should be viewed with some scepticism, since the non-farm business sector figures are distorted by the...