Wall Street Worries About Stagflation

“Economic growth has flatlined so far this year. Inflation has picked up. And consumers expect both to get worse in the months ahead,” Axios reports.

“For the moment, it adds up to Wall Street’s least-favorite ‘s-word,’ stagflation — stagnant growth mixed with elevated inflation.”

“That pattern, most vividly seen in the 1970s, is particularly painful because it means people experience pain from both lack of job opportunities and higher prices.”