James E. Thorne says Phillips Curve concerns helped shape Fed policy, as economists warned that a tight labor market could keep inflation pressure elevated. He says fears of a wage-price spiral added to pressure on Jerome Powell’s Fed.
published
James E. Thorne says Phillips Curve concerns helped shape Fed policy, as economists warned that a tight labor market could keep inflation pressure elevated. He says fears of a wage-price spiral added to pressure on Jerome Powell’s Fed.
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