Powell Says Fed Policy Hasn't Been as Accommodative as Thought

The video discusses the evolving relationship between unemployment and inflation, noting that historical correlations have weakened over time. It highlights the impact of global economic conditions, interest rates, and monetary policy on these dynamics. The speaker suggests that while low unemployment can lead to higher wages and inflation, the connection is currently weak.

Discuss the significance of the correlation between slack in the economy and inflation as mentioned in the text.

What does the text suggest about the current state of monetary policy?