Similarly, Holston, Laubach and Williams, leading names in this area of research, estimate that the confidence band around their estimates of the natural rate for the U.S. is currently around 5 percentage points. 5 For further discussion on the state of the Phillips curve, slack in the economy and inflation expectations, see e.g.
www.bofbulletin.fi/en/2018/1/reports-of-the-phillips-curve-s-death-are-greatly-exaggerated/ 6 A. W. Phillips (1958): The Relation between Unemployment and the Rate of Change of Money Wage Rates in  the United Kingdom, 1861–1957. Economica, New Series, Vol. 25, No. 100, pp. 283–299.