Deliberately embracing higher inflation as a way out of the sovereign debt crisis could have disastrous consequences. Instead, for most advanced countries, wherever it is feasible, a combination of...

With the end of QE2 approaching, it is notable that in the first quarter the Fed absorbed all of the net issuance of Treasury debt and then some. Nevertheless, we still believe it is the stock of...

The run of unexpectedly poor economic data has inevitably led to speculation that the Fed could be forced to adopt QE3. However, there are three reasons why we doubt that the Fed would be willing to...

The data released last week strongly suggested that the recovery has hit its second "soft patch" which, for an expansion that is less than two years old, is troubling to say the least. Admittedly...