The Budget Crunch Is Coming. States Must Adjust Their Spending Accordingly Higher inflation does not mean lower unemployment. Many assertions about monetary policy are based on the Phillips Curve, ...

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 ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As the FT has covered extensively this year, something strange is going on with the relationship between jobs ...

A couple of weeks ago, I wrote a post on the Fed’s success, or lack thereof, in meeting its dual targets of 5.5 percent unemployment and 2 percent inflation. The post featured the following “bullseye” ...