Flashback to the ‘70s: Stagflation

Memories of long lines at gas stations, shuttered factory and President Gerald Ford's "Whip Inflation Now" buttons were signs of stagflation in the 1970s. It's a toxic brew of high inflation and weak job markets. Economists say we aren't there — yet.

By

National News

June 8, 2022 - 3:28 PM

Economists are concerned about a return to stagflatoin, high inflation mixed with a weak job market. Photo by PIXABAY.COM

WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s.

For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons.

Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market to cause a toxic brew that punishes consumers and befuddles economists.

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