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Former Fed Chair Janet Yellen on why the answer to the inflation puzzle matters
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Former Fed Chair Janet Yellen on why the answer to the inflation puzzle matters


автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

9

Qualities

  • Analytical
  • Hot Topic
  • Insider's Take

Recommendation

Throughout the longest economic growth cycle in US history, inflation has remained subdued, perplexing economists and policy officials. In a recent speech at the Brookings Institution, former Federal Reserve chair Janet L. Yellen outlines some possible reasons for this change and what impacts it could have on price forecasting and monetary policy prescriptions. Economists, business leaders and analysts interested in deciphering the inflation conundrum will find authoritative insights in this informative report.

Take-Aways

  • Fed officials debate how low unemployment can coexist with muted inflation.
  • The Philips curve may not be as reliable an economic model as it once was.
  • Factors creating a flat Phillips curve give Fed officials flexibility in current and future policy actions.

About the Author

Janet L. Yellen, formerly Federal Reserve Board chair, is now a Distinguished Fellow in Residence at the Brookings Institution.


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