Tag Archives: phillips curve

Why Janet Yellen is Toast

Posted on March 18, 2016 by MN Gordon

“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 →

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Lost in Extrapolation

Posted on October 23, 2015 by MN Gordon

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 →

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