The expiry of the payroll tax cut could easily bring the acceleration in consumption growth over the second half of last year to a juddering halt this January. Some of the blow to real incomes will be...

Regardless of how the current debt ceiling negotiations pan out, the bigger problem is that there has been an almost complete breakdown in the working relationship between both sides in Congress. As a...

The annual growth rate of our measure of the broadest M3 monetary aggregate hit a three-and-a-half-year high of 6.4% in December, with the growth rates of the narrower M1 and M2 aggregates also...

The fanciful idea that the US Treasury could circumvent the debt ceiling by minting a $1trn platinum coin suddenly exploded in popularity last week. This is never going to happen. One question that...