Broad money growth appears to have stabilised, with our measure of the M3 aggregate rebounding slightly to 4.6% in January, from 4.4%. (See Chart below.) Elsewhere, the slowdown in the growth rate of...

Our best guess is that the severe weather has played a key role in the apparent deterioration in the incoming economic data for December and January. With much of the country currently digging out...

The two key takeaways from new Fed Chair Janet Yellen's first congressional testimony on monetary policy is that neither the recent drop off in the pace of employment growth nor the turmoil in...

The latest improvements in small business hiring and labour market turnover indicate that the fall in the unemployment rate may be a more accurate gauge of labour market slack than the Fed currently...