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Rate hikers fear another 1978 even as 2008 comparisons get louder by the week.

Eurodollar University

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The Phillips Curve in the Tight Labor Markets

Inflation, quite simply, is a monetary phenomenon. In other words, there's too much money chasing too few goods. And the only way to resolve that imbalance is through prices to go up. The problem is that economists and central bankers can't find that money. They don't know where it is; they don't know what it is.

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