The acceleration in productivity growth suggests the economy’s supply side is responding to the tightness of labour markets and the tax cuts introduced early last year. With investment growth slowing...

Neither the unexpectedly strong 3.2% gain in first-quarter GDP nor the outsized 0.7% m/m increase in real consumption in March changes our view that the US economy will experience a marked slowdown in...

Although the FOMC left the target for the fed funds rate unchanged at between 2.25% and 2.50% today, as expected, it unveiled a slightly unexpected 5bp cut in the interest on excess reserves (IOER)...

In contrast to the sudden weakness in core inflation a few years ago, the latest plunge in core PCE inflation cannot be explained by idiosyncratic factors. Instead, it reflects a moderation in unit...