The Phillips curve is alive and well

Click on graphic to enlarge.

The Next CBO Director

My friend and former CEA colleague Phill Swagel has been appointed the next director of the Congressional Budget Office. A great choice!

The Fed should monitor wage trends

Minneapolis Fed President Neel Kashkari had a noteworthy op-ed this week, arguing that monetary policymakers should pay more attention to wage trends than they have in the past. Ricardo Reis and I reached a similar conclusion in a paper back in 2003.