Inflation Persistence

Inflation persistence is actually a pretty big key, i think, in trying to understand the dynamics with an inflation. Some models perform really well in certain decades, and they completely collapse in the next decade. Is there reason to think that philip's curve framework will be a useful guide post for the fed? It's hard to say, i think. But the thing is that the feds ad their time horizons really, if you think about it, is essentially about three years,. We we get about three years a forecast from the fret fed, within the s p  and so, ye'r thinking about inflation changing over ten years or 15 years, that's less of an issue