A satisfactory explanation for the easing in jobs growth is hard to find, but a fading of the fiscal drag and a further pick up in overseas demand means it probably won’t be sustained for long. We...

Our M3* measure of broad money, which replicates the series discontinued by the Fed, continued to grow at a healthy annual rate of nearly 6% in September. But the longer the Fed delays the tapering of...

The new budget conference committee has been written off as dead on arrival by most people before it even starts work. Given the dysfunctional state of Congress and the failure of the deficit...

Even if Congress manages to keep the Federal government open and raise the debt ceiling next year, the continuing fiscal uncertainty is only going to make the Fed's job that much harder. That fiscal...