Based on what you learned in the course about inflation and monetary policy and based on your research about the current inflationary situation in the economy, please analyze the following statement: "Due to a flat Phillips curve-a well-documented feature of the economic environment of the last three decades-monetary policy can only achieve faster disinflation at a considerable cost in terms of forgone economic activity" (Libertystreeteconomics.newyorkfed.org) To get full credit, please use charts, graphs, tables etc. wherever needed. The analysis of this statement requires delving into what is the current state of inflationary pressures in the economy and what role does monetary policy plays in bringing down this inflationary situation. The suggested length of this answer is at least 3 pages typed: 12 point Times Roman double spaced (including the charts and graphs if any). The maximum points for this is 25 points