America’s fears of sustained inflation

 Estimates of higher “natural” unemployment point to a need for more Fed tightening

Ever since the Federal Reserve began tightening monetary policy earlier this year, economists have debated how big a trade-off there will be between inflation and jobs

To understand the debate, consider the non-accelerating inflation rate of unemployment, known more commonly by its acronym, nairu, or simply as the natural rate of unemployment. 

The Economist 5 August 2022

https://www.economist.com/finance-and-economics/2022/08/05/americas-jobs-boom-rolls-on-fuelling-fears-of-sustained-inflation

Non-Accelerating Inflation Rate of Unemployment, shortened to the unlovely acronym Nairu

https://englundmacro.blogspot.com/2022/01/non-accelerating-inflation-rate-of.html