Unemployment/Inflation "Experiment" Affects Economy
Wake Forest University Babcock Graduate School of Management"Unemployment has become less relevant to inflation," says economist Gary Shoesmith, director of the Center for Economic Studies at Wake Forest University's Babcock Graduate School of Management. "Unemployment has now been below 6 percent for three years, but inflation has continued to ease downward, plainly opposite the pattern seen in the business cycles of the 1960s, '70s and '80s. The old business cycle has changed."