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CNBC: Fed 'one and done' is a Wall Street fantasy
However, anyone who lived through the stagflation of the 1970s or who looks historically at the relationship between inflation and unemployment rates can proclaim with absolute certainty that the Phillips Curve is completely bogus.
Who would look historically at the relationship between inflation and unemployment though? That would take a fairly cynical person. Know anyone?
September 7, 2010
The Failed Keynesian Phillips Curve
Hey! Who would have guessed? I did! There's even a chart! Woohoo! ;)
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