The latest Fed statement offers little new, apart from a change in the resident hawk on the FOMC. We still expect QE to be maintained at $85bn per month until early 2014.

The Republicans opted to raise the debt ceiling temporarily because they believed it was politically expedient to link their demands for spending cuts to one of the many other potential budget...

By pointing to an acceleration in manufacturing output growth to around 8% per year, the Markit manufacturing PMI is probably a bit too upbeat. After all, it stands out as being much more optimistic...

Thanks to the recent pick up in overseas activity and the fall in the dollar, the outlook for US exporters has brightened. But without a major turnaround in economic activity in the euro-zone, export...