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Hawks and Doves Clash Clouds Outlook for Rates
Bloomberg Businessweek
The Phillips Curve Relationship Between Unemployment and Inflation Is Dead
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As of the last 12 months, we've had M2 money supply down 4%. We haven't seen that since the 1930s. Unemployment doesn't have to go up though for inflation to come down very quickly? There's a debate about that. But you know, there are certainly people on the committee who say, you know, the Phillips curve relationship between unemployment and inflation is dead.
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