Pimco's Crescenzi Wonders if Phillips Curve Exists

The video discusses the significance of economic indicators, focusing on the Employment Cost Index and its recent weak performance. It highlights the market's reliance on this index despite its limitations. The video also delves into the debate over the Phillips curve, questioning its relevance in modern economics and exploring its historical context.

How have historical perspectives on the Phillips curve changed over the decades?

What implications does the lack of a consistent Phillips curve have for current economic policy?