The slump in average weekly hours worked over the past few months is undoubtedly weather-related and we expect to see a bounce back in the spring.

We don’t place much weight on the idea that the Fed would be happy to leave interest rates at near-zero until wage growth returned to 4%. Instead, we believe that a pick-up in wage growth to between 2...

It will be a few months yet before we know for sure whether or not the recent pick-up in wage growth is just a temporary distortion caused by the unusually severe weather, but it does chime with the...

The Affordable Care Act, or “Obamacare”, remains a contentious piece of legislation, but the fact of the matter is that it boosted real consumption growth in January and will probably support it in...