The Tyranny of the Phillips Curve

The more than 300 Ph.D. economists at the Federal Reserve labor under the delusion that full employment actually creates inflation.

More from the New York Sun

The United Nations General Assembly after a vote on a resolution calling on Israel to uphold legal and humanitarian obligations in its war with Hamas, December 12, 2023. — AP/Bebeto Matthews

Discovery of Terrorist HQ Under UN Building in Gaza Means It’s Time To Reform the UN Itself

By CONRAD BLACK

|Aug 27, 2026

A pro-Palestinian protester holds a 'cease-fire now' sign as others block Interstate 5 northbound while calling for a cease-fire in the Israel-Hamas war Saturday, January 6, 2024 at downtown Seattle. — AP/Lindsey Wasson

Gay Activists in Seattle Declare ‘Homosexual Intifada’ in Support of Palestinians

By MAGGIE HRONCICH

|Dec 5, 2025

Young women lay flowers to pay the last respect to Alexei Navalny at the monument, a large boulder from the Solovetsky islands, where the first camp of the Gulag political prison system was established at Moscow. — AP/Alexander Zemlianichenko

With Navalny’s Death, Russia Scatters Last Ashes of a Press That Putin Destroyed

Gift this article

The Federal Reserve at Washington in 2020. AP/J. Scott Applewhite

STEPHEN MOORE

Dec 19, 2023, 04:02 AM ET

Repeat after me, class: Growth does NOT cause inflation. Write it on the blackboard 100 times.

Already have a subscription? Sign in to continue reading

or

Limited Access

Unlock 1 Free Article by Creating Your Free Account

Get 1 FREE article
Access to our Morning and Evening Sun newsletters

Create Account

Repeat after me, class: Growth does NOT cause inflation. Write it on the blackboard 100 times.

More from the New York Sun

Discovery of Terrorist HQ Under UN Building in Gaza Means It’s Time To Reform the UN Itself

By CONRAD BLACK

|Aug 27, 2026

Gay Activists in Seattle Declare ‘Homosexual Intifada’ in Support of Palestinians

By MAGGIE HRONCICH

|Dec 5, 2025

With Navalny’s Death, Russia Scatters Last Ashes of a Press That Putin Destroyed

Repeat after me, class: Growth does NOT cause inflation. Write it on the blackboard 100 times.

Already have a subscription? Sign in to continue reading

or

Limited Access

Unlock 1 Free Article by Creating Your Free Account

Get 1 FREE article
Access to our Morning and Evening Sun newsletters

Create Account

By ANTHONY GRANT

|Feb 20, 2024

An opinion from the Oklahoma attorney general could pave the way for religious charter schools across the country. — AP/Nam Y. Huh

Massachusetts School Plagued by Violence Pleads for ‘Immediate Assistance’ From National Guard To Restore Order

By MAGGIE HRONCICH

|Feb 20, 2024

An Atlanta defense attorney known for her colorful Instagram marketing strategies, Nicole Fegan, has been arrested and charged with gang activity. — Via Instagram

Rising Star Defense Lawyer in ‘Young Thug’ Trial Arrested for ‘Gang Activity’: Attorney Markets Herself on Instagram With Gang Signs, Guns, and Tattoos

By ABIGAIL SEABERG

|Feb 20, 2024

The Chinese foreign minister, Wang Yi, speaks during the 2024 Munich Security Conference on February 17, 2024, at Munich, Germany. — Johannes Simon/Getty Images

Europe Readies for War, Though Armor and Resolve — and a Sense of Urgency — Are Wanting

By ALEKSANDRA GADZALA TIRZIU

|Feb 20, 2024

Houthi supporters attend a rally against the U.S.-led strikes against Yemen and in support of Palestinians in the Gaza Strip, at Sanaa, Yemen, February 16, 2024. — AP/Osamah Abdulrahman

Houthis’ Latest Assaults on Shipping Underscore Challenges to America in Battle of the Red Sea

By JON GAMBRELL

|Feb 20, 2024

Ruby Franke during a hearing in December at St. George, Utah. — Ron Chaffin/St. George News via AP

Judge To Decide Fate of Disgraced Mommy Blogger, Ruby Franke, Who Pleaded Guilty to Gruesome Child Abuse Charges

By MAGGIE HRONCICH

|Feb 20, 2024

Unlimited Access

Join the Sun for 1¢ per day

Cancel anytime

100% ad free experience
Unlimited article and commenting access

Subscribe

Unlimited Access

Join the Sun for a PENNY A DAY

Cancel anytime

100% ad free experience
Unlimited article and commenting access

Subscribe

View All Membership Options

By continuing you agree to our Privacy Policy and Terms of Service.

Unlimited Access

Join the Sun for 1¢ per day

Cancel anytime

100% ad free experience
Unlimited article and commenting access

Subscribe