The strong reaction to the January CPI data demonstrates that markets still don’t fully comprehend that the Fed is focused on the alternative PCE measure of inflation. While core CPI inflation was...

Speculation will inevitably build that a Donald Trump victory in this year’s presidential election would be followed, once again, by large-scale tax cuts. With the Federal budget outlook in a far...

New projections released by the CBO this week show that although the Federal budget deficit is expected to be a bit smaller than previously assumed, it remains on an unsustainable path. Moreover, with...

The strength of payroll employment growth over the past two months is likely to be a blip rather than the start of a renewed acceleration and the wider evidence still points to a further slowdown in...