New York Fed President William Dudley noted last week that the pace of rate hikes will depend a lot on the reaction to the initial lift-off in financial markets. The upshot is that, while there is an...

Rumours of the demise of the US economy have been greatly exaggerated. The run of weaker economic data hasn't shaken our belief that, now credit is flowing more freely and the fiscal drag has faded...

At first glance, the recent monthly construction spending figures look awful. The three-month-on-three-month growth rate of residential construction spending at least climbed back into positive...

In an attempt to justify leaving the fed funds rate at near-zero until some time later this year, Fed Chair Janet Yellen last week hinted that she thought the current equilibrium (or neutral) real...