Higher inflation does not mean lower unemployment. Many assertions about monetary policy are based on the Phillips Curve, illustrated in the following chart, that posits a particular relationship ...

Every academic discipline has dirty secrets. Those of economics include the fact that some of our best known principles are based on very thin data. The Phillips curve, which is relevant to much of ...

Philadelphia Fed paper finds Phillips curve forecasts tend to be more accurate when the economy is weak and less accurate when it is strong Share ...

New data covering the period since May 2023 have continued to follow the path of a nonlinear Phillips curve that shows the relationship between inflation and a particular measure of labor market slack ...