The article looks at how inflation behaved in the US since 1960, especially during the Great Recession. By adjusting the Phillips curve, they found that inflation should have dropped more during the recession. They also found that people's expectations about inflation have been mostly stable since the 1980s, but it's uncertain if they're strong enough to prevent deflation in the near future. Lastly, the Great Recession showed that the traditional economic model doesn't always predict inflation accurately.