The idea is that there is some moderate, positive rate of inflation that produces the lowest minimum unemployment rate that can be sustained without accelerating inflation. (niskanencenter.org)
Another condition typically necessary for recession is an overheating economy — that is, an economy operating beyond full employment, with accelerating inflation and quickly rising interest rates. (nic.org)
«I hope the Fed will not now invest its credibility in signaling further increases until and unless there is much clearer evidence of accelerating inflation,» he writes. (fortune.com)