The Philips Curve Corundrum

Unemployment in the US is at its lowest level since 1969. Inflation has dropped from 9% to 6.5%. But unemployment is also at a multi-decade low. So how will it impact inflation? It's tricky. And what the central bank will do really depends on how much trust they place in the Philips curve or even an updated Philips curve 2.0 with extra bells and whistles.