The economy's slow deleveraging continued in the third quarter, with total debt falling to a four-year low of 340% of GDP down from a peak of 373% in the first quarter of 2009.

The announcement last Wednesday of coordinated action by the Fed, ECB and other central banks to boost global dollar liquidity certainly had a big impact on financial markets. The announced changes...

The mounting fiscal crisis in the euro-zone obviously represents the biggest downside to our forecast that the US economy will continue to expand next year, albeit by a pretty modest 1.5%. In a worst...

The apparent failure of the congressional deficit reduction super committee to reach any agreement is not the disaster it is being portrayed as by some commentators. As we argued in our most recent US...