Written by Jasir Jawaid
Stagflation, an economic term obsolete since the 1970s, has returned to the American lexicon.
Former Federal Reserve Chairman Ben Bernanke has warned of stagflation; more recently, the World Bank downgraded its forecast for the global economy, citing factors such as stagflation. The fallout from the Russia-Ukraine war, supply chain snags, and remnants of COVID-19 have eaten into economic activity at home and abroad and could affect consumers and employers. In the U.S., energy prices are rising, inflation remains high, and the country is also facing severe product shortages, raising fears of stagflation.
But what is stagflation, and what, if anything, you can do to protect yourself?
This article was published on JoyWallet and can be read here in full.
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