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Question: the phillips curve study plan 124 7 central bankers are...

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The Phillips Curve (Study Plan 12.4) 7. Central Bankers Are Baffled Another month with a low unemployment num ber and with no rise in the inflation rate has the Federal Reserve baffled. The Phillips curve has disappeared Source: The Financial Times, July 27, 2017 a. What does the Phillips curve model say about the relationship between the unemployment rate and the inflation rate? b. Explain the event in the news clip in terms of what is happening to the short-run and long- run Phillips curves.
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