Regardless of what happens on Black Friday, other more useful indicators suggest that this holiday shopping season could be the best in nine years.

When the time comes next year to begin normalising interest rates, we believe that, using the interest on excess reserves (IOER) rate and its new liquidity management tools, the Fed will be able to...

Although the Fed recently concluded its quantitative easing (QE), the Bank of Japan has announced an expansion in the pace of its own asset purchases and the ECB is edging closer to full-blown QE. We...

The growth rate of broad money has eased, as the Fed has wound down its asset purchases and expanded its reverse repo and term deposit facilities. As the Fed expands the use of those liquidity...