"Ben Bernanke, who served as Federal Reserve Chairman under Presidents Bush and Obama, warns that the U.S. economy is headed for a repeat of 1970s “stagflation.”
Economists refer to a period of low economic growth, high inflation, and rising unemployment as “stagflation.”
“Even under the benign scenario,” the U.S. is likely to go through “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,” Bernanke told the New York Times.
“So you could call that stagflation.”
That “benign scenario” is if current Fed chair Jerome Powell is able to cool inflation by raising interest rates without tipping the country into a recession.
Bernanke also expressed concern about the rapid rise in housing costs, fearing a 2008-style bubble.
He told the Times that it was something that the Fed needs to keep an eye on."
I think it’s going to be worse than that.
Just a feeling….