“Reports of my death have been greatly exaggerated” is one of Mark Twain’s more frequently referenced quips. Leaving aside the fact that it is a slight misquotation, it is an amusing line, and one that neatly captures Fathom’s belief in the continued validity of the Phillips curve. There is a widespread perception that the relationship between labour market slack and inflation is, at best, diminished and, at worst, no longer intact. Fathom does not subscribe to this view. Instead…
![The Phillips curve — rumours of its death are greatly exaggerated](https://www.fathom-consulting.com/wp-content/uploads/2018/03/20171123-UK-Labour-share-G7.jpg)
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