Yesterday's FOMC takes some of the edge off, but the inflation theme is alive and well.

Today's jobs report raises issues about the shape of recovery and the risk of deflation.

The Fed may be off deflation watch, but markets evidently are not.

The Fed is losing the short-term financing for its long-term liabilities.

A proposed surtax may be the kind of self-correcting policy over-reach we saw in March.

Bernanke's vision for ending the Fed's hyper-accommodation is all tools and no timing.

Earnings surprises, and a surprise crack-up of Obamacare, carry stocks to new highs.

The FOMC knows its $300 billion bond buy was a mistake -- it won't be buying more.

Markets rightly expect Bernanke to stay, and Summers would be a destabilizing surprise.

Seemingly unthinkable so recently, the economy managed to pull back from the abyss.