I have been hearing stagflation on the radio for about a week now. I guess the media/govt has figured out that we are heading there and there is no way to stop it, so might as well get the word out. I remember the last stagflation and it wasn’t fun.
Reagan's Fed took necessary measures. As you say, not a pleasant experience. I suppose the GOP is silent at the edge of this precipice because they are somewhat complicit in the crash...