Superabundant liquidity is buffering the economy from problems in subprime.

The Fed may be on pause longer now, but nothing in yesterday's FOMC statement justifies the fantasy that rate cuts are coming.

After Wednesday's knee-jerk reaction to the FOMC statement, a clearer appraisal.

Bernanke makes it crystal clear there are risks to both growth and inflation -- leaving inflation "predominant."

Today's data should begin to bend the "flexible" Fed toward the breaking point.

Don't worry about Ahmadinejad. Worry about Bernanke.

Why trade is good, why protectionism is bad, and why countervailing duties on Chinese paper are only a small step in the wrong direction.

Bernanke used to think low inflation was consistent with steady growth -- now it seems he can't decide between them.

The correction was a correction -- it has about run its course, with inflation plays in the lead.

Bonds bulls will seize on anything -- even inflation statistics distorted by NCAA basketball.