> Persistent inflation generally happens when an economy runs out of people. While there is a short run tradeoff between unemployment and inflation, it has not

> Persistent inflation generally happens when an economy runs out of people. While there is a short run tradeoff between unemployment and inflation, it has not been observed in the long run. The Phillips curve was contradicted the 1970's and flatlined in the 2010's. Persistent inflation happens when central banks are no longer trusted to manage M2.