It is encouraging that, faced with the prospect of the US economy hitting the fiscal cliff at the end of the year, businesses have not started to hoard more cash. At the same time, though, there is...

Despite the ongoing euro-zone crisis, the looming fiscal cliff and a drop back in the value of their financial assets, US households actually increased their debts in the second quarter by $74bn at an...

The sheer size of the Fed’s QE3 policy becomes even more apparent when it is compared to the policies of other central banks. Although we doubt that QE3 will set the US economy alight, the greater...

The early evidence suggests that the Fed’s latest policy actions have already started to have their desired effect on financial markets. But there are large question marks over whether these moves...