How does the Phillips Curve relate to the concept of the natural rate hypothesis?

How does the Phillips Curve relate to the concept of the natural rate hypothesis?

The Phillips Curve relates to the concept of the natural rate hypothesis by suggesting an inverse relationship between unemployment and inflation in the short run. According to the Phillips Curve, when unemployment is low, inflation tends to be high, and vice versa. However, the natural rate hypothesis argues that in the long run, there is a natural rate of unemployment that is consistent with stable inflation. This implies that any attempts to permanently reduce unemployment below the natural rate will only result in higher inflation, as the economy adjusts back to its natural rate. Therefore, the Phillips Curve and the natural rate hypothesis together highlight the trade-off between unemployment and inflation in the short run, but emphasize the importance of the natural rate of unemployment in the long run.