On February 19, Walmart announced that it was raising its minimum starting wage to $9 an hour.  Since Walmart is famous for its ruthless cost management, this appeared to be a significant sign of …

The U.S. Senate passed Paulson’s $700 billion rescue plan three days after the House rejected it. The House is expected to vote again on Friday. While the political maneuvering continues, the Feder…

As our chart indicates, the U.S. budget deficit is expanding at its fastest rate in the post-war era. Obama’s proposed fiscal stimulus will add to this deficit. This aggressive fiscal response is m…

Complementing the IMF’s $100 billion liquidity facility, the Federal Reserve has announced the establishment of swap lines with the central banks of Mexico, Brazil, South Korea, and Singapore for u…

Markets had their worst day since the 1987 crash following the House vote to reject Paulson’s rescue plan. The Federal Reserve and the Treasury are expected to hold things together through greater …