Back in 1965, much as today, the Federal Reserve's main inflation gauge was running at a low 1.25%, labor costs were growing slowly and the unemployment rate was half a percentage point above what then was viewed as optimal.
Don Lee, Los Angeles Times: Business
Thu, 03/26/2015 - 6:13pm
Back in 1965, much as today, the Federal Reserve's main inflation gauge was running at a low 1.25%, labor costs were growing slowly and the unemployment rate was half a percentage point above what then was viewed as optimal.