The Phillips Curve, Which Goes Out of Style for the Last 40 Years

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The unemployment rate dropped to 3.4%, a level we have not seen since 1969. The Phillips curve, which went out of style for the last 40 years, came back into style under Chairman Powell, is going out of style again. We're seeing the challenger job layoff rate up 400% plus in the month of January. It doesn't square with what we're seeing out there elsewhere.

On today’s episode of FYI, we will be featuring last week’s episode of In The Know, a monthly video series on which ARK CEO and CIO Cathie Wood discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. On this specific episode, Cathie weighs in on M2 growth, interest rates, inflation, auto sales, and bitcoin. Additionally, she highlights ARK’s Big Ideas 2023.

“We’ve grown up in a linear world really the last 50 years, and if were right that we’re entering into an exponential growth world, then real GDP growth should kick up here.” – @CathieDWood

The Big Ideas highlighted in this year’s report include: