Tag Archives: phillips curve
Why Janet Yellen is Toast
“The Phillips Curve is alive,” said Fed Chair Janet Yellen at Wednesday’s post FOMC meeting press conference. We’ll offer some remarks on this in just a moment, including why Yellen is toast. But first we must put her utterances into … Continue reading
Posted in Inflation, MN Gordon
Tagged brandolini's law, central banking, fomc, janet yellen, phillips curve
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Lost in Extrapolation
In the late 1970s the impossible happened. Inflation and unemployment simultaneously went vertical. The leading economists of the day were flummoxed. The Phillips curve said there’s an inverse relationship between inflation and unemployment. When unemployment goes down, inflation goes up. … Continue reading
Posted in Inflation, MN Gordon
Tagged federal reserve, janet yellen, larry summers, phillips curve, zirp
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