Fed Shatters Conventional Economic Wisdom

Published Friday, May 18, 2018 at: 7:00 AM EDT

Conventional economic wisdom holds that the recent record-low unemployment rate means employers are about to bid up wages, which will be passed through to consumers in the form of higher prices, and put us on track for a bout of rising inflation. However, the conventional wisdom is being shattered. The theory relied on to explain the correlation of inflation and employment, The Phillips Curve, is being thrown out the window. It's not often in life that you experience breakthroughs in knowledge, but just as civilization came to accept that the world is not flat, it has straightened its thinking...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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