The article discusses how a central bank's attempt to lower inflation without fiscal support may not work. The researchers show that in a policy regime where the fiscal authority does not support the central bank, efforts to reduce inflation could backfire. They use a model to demonstrate how low inflation, low interest rates, and high budget deficits can happen together. The researchers also explain why it's easier for a central bank to lower inflation than to raise it. They end with suggestions for adjusting monetary policy based on the state of the economy.