How does the Phillips Curve inform economic policymakers about the trade-off between inflation and unemployment during the implementation of monetary policy?

The Phillips Curve shows the relationship between inflation and unemployment, suggesting that when unemployment is low, inflation tends to be high, and vice versa. This means that if policymakers want to reduce unemployment, they might need to accept a bit of higher inflation. For example, if a central bank lowers interest rates to encourage borrowing and spending, it can help create jobs but may also lead to prices rising faster. Understanding this trade-off helps economic policymakers decide how to balance their goals of keeping prices stable while also promoting employment. By using the Phillips Curve, they can make more informed choices about how to adjust interest rates and other monetary policies.