From at least World War II to 1980, we had cycles of recessions and recoveries. Each cycle had higher inflation (at corresponding points in the cycle). Since 1980, each cycle has lower inflation, but higher unemployment.
From at least World War II to 1980, we had cycles of recessions and recoveries. Each cycle had higher inflation (at corresponding points in the cycle). Since 1980, each cycle has lower inflation, but higher unemployment.