As things stand, both the Fed and the European Central Bank seem determined to bring inflation down to their target rates, even if that takes a while and could entail a recession
. That has led to some, including the World Bank, to warn of an old foe: “stagflation”. The portmanteau, a combination of stagnation and inflation, was popularised in the 1970s by Paul Samuelson, a Nobel economics laureate. In America it brings memories of a time when inflation was high, the economy struggled through two recessions and unemployment remained elevated.
Today in America and Europe, unemployment is low and inflation high, suggesting that one indicator of stagflation, high unemployment, is missing. And as in some previous inflationary episodes, there is still a good chance that once the current surge in prices has dissipated, inflation rates will come back to normal, though at a higher overall price level than previously expected.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to stop your makeup sweating off when your face is a hot messThe hot weather is making everything hideously clammy and it's not cute.
Read more »
Ukraine war: 'This is a dreadful mistake' - Head of UK's armed forces says Russia has 'strategically lost'Admiral Radakin, the UK's chief of defence staff, said Russia was under pressure because 'it's running out of people and it's running out of high-tech missiles'.
Read more »
Ricky Hatton confirms his exhibition bout against Mexican boxing legend Marco Antonio Barrera off for nowBritish boxing legend Ricky Hatton has confirmed that his exhibition fight against Marco Antonio Barrera has been postponed until November 12. The bout was due to take place on July 2 at the AO Are…
Read more »
Make Your Home Feel Like A Holiday With These Stylish Garden Furniture BuysFrom sun loungers to outdoor dining tables: it’s time to upgrade your garden.
Read more »
Love Island's Davide slams ‘liar and actress’ Ekin-Su after secret kissesIt looks like its the end of the line for Italian stallion Davide and thespian Ekin -Su - Should have got her morning Coffee Davide ☕️ loveisland
Read more »
Have I Gotten Too Old To Continue My Pre-Pandemic Life?“Am I really forced to so suddenly say goodbye to the benders I once loved?”
Read more »