This article on the Phillips cuve is from the Richmond Fed:
Inflation and Unemployment: A Layperson’s Guide to the Phillips Curve, by Jeffrey M. Lacker and John A. Weinberg, FRB Richmond, Annual Report: What do you remember from the economics class you took in college? Even if you didn’t take economics, what basic ideas do you think are important for understanding the way markets work? In either case, one thing you might come up with is that when the demand for a good rises—when more and more people want more and more of that good—its price will tend to increase. This basic piece of economic logic helps us understand the phenomena we observe in many specific markets—from the tendency of gasoline prices to rise as the summer sets in and people hit the road on their family vacations, to the tendency for last year’s styles to fall in price as consumers turn to the new fashions.
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