What's the Phillips Curve?

Wage growth is narrowing rapidly. This dynamic strongly suggests that wage growth can return to a pace consistent with a 2% inflation target without a material increase in the unemployment rate. I'm just telling you right now, if this happens, soft landing achieved. What? If they can bring inflation down. Wage growth can come down without the economy. Without having a recession. You break inflation, you slow, wage growth comes all the way down, unemployment doesn't pick up. That's soft landing. And what is this chart showing though? Do you know how to read this? US wages Phillips curve. Forget about this. Doesn't matter. All right, it doesn't matter. It's

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