Animal spirits in the aftermath offset the "terror tax." If only it had driven oil prices higher.

The Fed seems committed to a deflationary policy error. Hopefully it will be a small one.

With the ECB's move, enough to justify a "liftoff" mistake. But it could be "one and reversed."

Long Treasuries aren't budging as "liftoff" nears: it's going to be "one-or-two and reversed."

Long Treasuries aren't budging as "liftoff" nears: it's going to be "one-or-two and reversed."

In her own words: more focus on labor and financial regulation; less on inflation.

Once more with feeling: an unelected prime minister brings supply-side reforms to Italy.

Putin stand downs, blames the Fed. And the world survives another test of contagion.

Sign of strength: by the data, this near-historic February chill should have produced zero jobs.

Europe might appease Russia -- is it just too expensive to fight a sanctions-war?