immaculate disinflation

One of the terms talked about in relation to bringing down inflation is the R word, the recession that no one wants to have.  It can, however, seem inevitable given that the brakes are being put on the economy.  This is also described as a hard landing.  A soft landing, on the other hand, is the pleasanter economic outcome which we all hope for, without too much expectation since it has been accepted that it requires a certain number of people to be unemployed before the dial on inflation can be shifted (another bit of jargon).  But what some countries (like America and Australia) are experiencing is the economic miracle of immaculate disinflation. Akin to that other miracle — immaculate conception. Inflation is cooling but the unemployment numbers are not going up.  We all (more or less) seem to be keeping our jobs.  No one quite understands how this can be, and there are those who forecast that the spike in unemployment is yet to come, but, for the meantime, we are counting our blessings and hoping  that the economic textbooks can be rewritten.