Macro Lit Review 3: Highlights from Early 2023 with George Selgin
Macro Musings with David Beckworth
00:00
The Hard Road to a Soft Landing
A working paper by Randall Verbrueghe and Sayid Zaman from the Federal Reserve Bank of Cleveland. It suggests that it is only the reduction in employment that allows inflation to come down. This language seems to be kind of hardwired to thinking in terms of the Philip's curve, no matter how fancy your Philip's curve is. But you rule out the whole idea of a soft landing by using language.
Transcript
Play full episode
