In this video, George Gammon explains what the Phillips Curve is, and how The Fed uses it to come up with their assumptions on what moves need to be taken in economic policy. In doing so, he also explains why several hundred PhD's at The Fed cumulatively have seem so inept at understanding what's really going on in the economy. This explains why The Fed's actions are going to make this coming recession worse. He sums that all up in about 20 minutes. If you have any interest in the macro economic Big Picture, check this video out. Check out George's YouTube channel.
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