It is central to Keynesian economic thought that market prices are sticky—that is, they sometimes fail to adjust quickly or at all to changes in supply and demand. Central banks therefore intervene to ...

Powell fielded questions from students about the origins of pandemic-era inflation, pushing back on the idea that the expansion of the money supply was the primary driver of price increases.

Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...

A term often used in discussions to improve supply chain performance is ‘balancing demand and supply.’ But what does that mean in real-world, practical applications? In short, balancing demand and ...

I use Phillips curve type regressions to assess the relative contributions of demand and supply forces to U.S. inflation during the pandemic era from February 2020 onward and the decade following the ...