CatalystMacro

THE UNEMPLOYMENT RATE HAS ALMOST NEVER BEEN BELOW THE INFLATION RATE. ONLY ARTHUR BURNS (AND POWELL IN 2021) THOUGHT THAT MADE SENSE AND WE KNOW HOW THAT ENDED.

What changed

LET’S BE REAL HERE. FED HAS TO HIKE, PROBABLY A LOT WE ARE REPEATING THE 70S — VIA @REV_CAP

Why it matters

Historical precedent shows unemployment below inflation preceded 1970s stagflation and 2021 policy error.

Sources