Surveillance: Ban the Phillips Curve, Says Sahm
Bloomberg Surveillance
00:00
Is Nehru a Made Up Number?
When unemployment is below a certain level, it's going to be inflationary. The Federal Reserve showed they have no idea what Nehru is despite a lot of effort. And I think this is where the Fed has to get back leaning into the data. We have seen inflation coming down without wage growth really slowing. That tells you there is at least some relief that comes without high interest rate increases.
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