We got another labor market indicator on Wednesday ahead of Friday’s jobs report. According to ADP, the private sector added 152,000 jobs in May. That’s fewer than were added in April, so a bit of a ...

Government has no resources. It can only spend what it’s taken from us first. Yet Keynesian economists (meaning the vast majority of economists) believe government spending boosts economic growth.

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 ...

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 ...

Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...

We believe that the effects of Covid on the economy and financial markets are diminishing, and we believe that the Phillips curve is supporting this. Will history repeat in the second half of this ...

Several academics and practitioners have pointed out that inflation follows a seemingly exogenous statistical process, unrelated to the output gap, leading some to argue that the Phillips curve has ...