Investment Updates
Fed Shatters Conventional Economic Wisdom
Published Friday, May 18, 2018 at: 7:00 AM EDT
Conventional economic wisdom holds that the recent record-low unemployment rate means employers are about to bid up wages, which will be passed through to consumers in the form of higher prices, and put us on track for a bout of rising inflation.
However, the conventional wisdom is being shattered. The theory relied on to explain the correlation of inflation and employment, The Phillips Curve, is being thrown out the window.
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