Fed Chairman Ben Bernanke acknowledged in his congressional testimony today that the incoming economic data had been "generally disappointing", but offerred no hint that the FOMC was close to...

The various monetary aggregates show broad money growth is both strong and stable which, at the margin, makes a third round of quantitative easing look less warranted. In contrast, our own M3 measure...

This week's congressional testimony from Fed Chairman Ben Bernanke will be closely watched for hints that the FOMC is any closer to launching a third round of large-scale asset purchases. Even though...

Two data releases this morning offered only limited support to the claim made yesterday by Richmond Fed President Jeffrey Lacker that the economy is already close to full employment.