December 23, 2019
Whether looking at what Santa could be earning or a typical U.S. worker, wage growth is not as high as they would like it to be.
Whether looking at what Santa could be earning or a typical U.S. worker, wage growth is not as high as they would like it to be.
Showing the connection between inflation and unemployment, the Phillips Curve has been re-interpreted, re-affirmed and condemned as a monetary policy tool.
As the source of monetary policy, the Federal Reserve has to decide if interest rates should rise when inflation is low but a jobs recovery has begun.
The monetary policy dilemma is when to take the punchbowl away after the party gets going. In other words, have jobs recovered enough to raise rates?