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Waller: The Unstable Phillips Curve
Thank you, Sylvain, and thank you to the Federal Reserve Bank of San Francisco for inviting me to speak tonight. After listening to many dinner speakers through the years, I am well aware that after the entrees are served, no one wants to hear someone blabber for 45 minutes. So, I will try to keep this short to leave enough time for a robust discussion afterward, which I hope my remarks will generate. My topic tonight is "The Unstable Phillips Curve."1 This is not intended to be a deep academic analysis but rather to present some thoughts for discussion. I know that I am walking into the Phillips curve lion's ... (full story)