The acceleration in third-quarter GDP growth to 2.5% annualised, from 1.3%, seemed to make a mockery of fears that emerged early in the quarter that the economy was entering a recession. Nevertheless...

The Federal Reserve's framework for setting and communicating monetary policy came under the spotlight last week. It is understandable given the persistently high level of unemployment that economists...

The rapid pace of money growth continued in September. To some extent the recent pick up reflects a jump in the precautionary demand for money, however, so it is not necessarily inflationary.

Recent events in Washington suggest that, with fiscal policy largely tapped-out and monetary policy ineffective, trade protection policies are becoming more appealing. Import tariffs are not the first...