We seem to be able to absorb serial shocks.

His academic work on inflation targeting will be of great comfort to many market analysts and investors who are beginning to fret about inflation,

The Fed has been singularly unsuccessful in cooling down the hot U.S. housing market, primarily because its rate hikes have had little impact on long-term interest rates — so far,

We are headed for a Katrina-induced soft patch, but I would not interpret this as the early warning of a recession.

There's not a lot of relief in sight. I would not be surprised to see the monthly deficit go above $60 billion by fall, and stay there.

Let's be clear -- for the next couple of months the employment numbers are going to look terrible. There's going to be a lot of noise and problems gathering the data, so it's going to be tougher than usual to sift through the tea leaves and really get at the heart of what's going on here.