For a central bank that supposedly puts so much weight on clear communications, last week’s various attempts by Federal Reserve officials to explain when it might begin curbing its open ended monthly...

Over the next two years, America is expected to reduce its government budget deficit by more than the largest European economies. This won’t come without a cost. But the big difference is that America...

The recent strengthening of the dollar against the Japanese yen is unlikely to put a major dent in US inflation or activity. What’s more, the competitiveness of US manufacturers may not be eroded too...

Broad money growth has remained largely unchanged over the past six months, even after the Fed restarted its quantitative easing. The annual growth rate of our M3 measure picked up slightly to 6.4% in...