The growth rate of our M3 broad money aggregate slowed to 4.6% in November, but M2 growth was still a very healthy 6.2% and, most importantly, the growth rate of bank loans is running at 8.0%.

If 2015 was the year when interest rates didn’t rise as rapidly as most originally expected, then 2016 is likely to be the opposite, with a bigger than expected rebound in inflation forcing the Fed to...

At this stage, it is almost universally expected that, after a seven-year period at near-zero, the Fed will raise interest rates this Wednesday. Like everybody else, we anticipate a 25 basis point...

Last week Chair Janet Yellen all but confirmed that the Fed will begin to raise interest rates from near-zero at the upcoming FOMC meeting, which ends on 16 th December. Any final doubts should have...