The annual growth rate of our re-constructed measure of M3 eased slightly to 5.2% y/y in April, from 5.9% but, with M1 and M2 still growing at much faster rates, we see no cause for alarm.

Labour's share of income has been on a downward structural trend since the 1980s, resulting from the decline in labour's bargaining power, globalisation and technological progress. Not only will that...

All things considered, we don't expect Greece's eventual exit from the euro-zone to have any devastating impact on the US economy, even if the exit from the single currency is compounded by a Greek...

A look back at history throws cold water over suggestions that the Fed tends to alter its behaviour ahead of Presidential elections. Nonetheless, with political hostility towards the Fed currently...