Unemployment and inflation are an economy's two most important macroeconomic issues. The federal government's fiscal policy and the Federal Reserve's monetary policy try to maintain both a low unemployment rate around a natural rate and a low inflation rate around 2%.

Concerning the topic above related to the US economy, what is your understanding and assessment of the recent 20-year U.S. unemployment and inflation data? Do the current U.S. unemployment and inflation data confirm the short-run Phillips curve?