Ben Bernanke Sees ‘Stagflation’ Ahead

Former Federal Reserve Board chairman Ben Bernanke to the New York Times:

“Even under the benign scenario, we should have a slowing economy. And inflation’s still too high but coming down. So there should be a period in the next year or two where growth is low, unemployment is at least up a little bit and inflation is still high. So you could call that stagflation.”