A ’70s Stagflation repeat can no longer be dismissed
Stagflation was a 1970’s problem, but we might be looking down the same barrel today. Stagflation is when sky-rocketing inflation intertwines with a weak job market and created a disaster for consumers and a frustrating situation for economists to analyze.
Stagflation was assumed not to happen again, as it was expected inflation would only climb when unemployment was low and the economy was strong. But a series of events over the past few years have some reevaluating its probability, and the World Bank’s outlook on the global economy has become notably bleak.
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