Despite the explosion in Federal government debt, the US economy as a whole has been deleveraging since the financial crisis erupted in 2008. The reduction in debt by the household and financial...

Operation Twist is a go, albeit with a small twist on the twist. The Fed's announcement today that it will act to extend the average maturity of its Treasury holdings, by buying $400bn of securities...

The most recent acceleration in the annual growth rates of M1 and M2 has been dramatic, but the latest moves largely reflect a rise in the precautionary demand for money. The pick-up in the growth...

The marked rebound in the rate of core inflation since late last year is one of the key reasons why Fed officials are more wary of implementing further quantitative easing now. Some of the recent...