During the early 1960s, many economists and policymakers believed that monetary policy could exploit a stable trade-off between the level of inflation and the unemployment rate. One version of the ...

I am so glad you asked this great question! Indeed, many of us study economic theory in classrooms, and the Phillips curve is typically covered in a macroeconomics class. However, it is natural to ...

The Fed cut the Fed Funds rate by 50 basis points on September 18. The Fed’s twin mandate, keeping inflation under control and aiming for low unemployment is really in the service of the American ...

I must have written at least four essays on the trade-off between unemployment and inflation during my undergraduate days. Back then, the focus was invariably on the Phillips curve — the postulated ...