(Answered) Milton Friedman argued that the Phillips curve did not represent a permanent​ trade-off between…

➤ How do inflation expectations change the Phillips curve?
Inflation expectations shift the short-run Phillips curve. Under adaptive or rational expectations, anticipated inflation raises wages and prices, moving the curve upward. The accelerationist view says steady inflation growth can follow persistent attempts to push unemployment below the natural rate. Therefore expectations make the trade-off unstable and policy-dependent.