The annual growth rates of all the monetary aggregates remained strong in February, with our measure of the broadest M3 aggregate increasing by 6.0% over the past year. With the euro-zone crisis...

The widening in the current account deficit to more than 3% of GDP at the end of last year is no big concern. The US has been running deficits of more than 3% of GDP for most of the past dozen years...

The statement released after today's FOMC meeting included a slightly more upbeat assessment of the economic outlook, but the Fed can hardly be accused of acting as a cheerleader for the recovery...

The recent sustained run of stronger economic data, particularly on the labour market, has persuaded us to raise our GDP growth forecast to 2.0% this year, from 1.5%. We are also nudging up our 2013...