Let's consider two recent disinflationary periods: the Volcker Disinflation between 1981 1985 and the Powell disinflation between 2022 2023. The inflation and unemployment data in the table below are for the United States during these two periods, with annual data between 1981 1985 and quarterly data between 2022 - 2023. Inflation data is based on the GDP deflator as a measure of prices. Unemployment Natural Rate of Inflation Year rate (U) Unemployment (Un) (Year on Year) Data for 1981 - 1985 1981 7.6 6.2 9.5 1982 9.7 6.1 6.2 1983 9.6 6.1 3.9 1984 7.5 6.1 3.6 1985 7.2 6.0 3.2 Data for 2022 - 2023 2022Q2 3.6 4.4 7.6 202203 3.6 4.4 7.1 202204 3.6 4.4 6.4 2023Q1 3.5 4.4 5.3 2023Q2 3.6 4.4 3.6 You may assume that Okun's Law holds true, i.e.: AY =-2(U-U")