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FILE - Cars line up in two directions at a gas station in New York City, on Dec. 23, 1973. An unhappy confluence of events has economists reaching back to the days of disco and the bleak high-inflation, high-unemployment economy of nearly a half century ago. No one thinks stagflation is in sight. But as a longer-term threat, it can no longer be dismissed. (AP Photo/Marty Lederhandler, File)

FILE - Cars line up in two directions at a gas station in New York City, on Dec. 23, 1973. An unhappy confluence of events has economists reaching back to the days of disco and the bleak high-inflation, high-unemployment economy of nearly a half century ago. No one thinks stagflation is in sight. But as a longer-term threat, it can no longer be dismissed. (AP Photo/Marty Lederhandler, File)

May 29, 2022

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Worry about stagflation, a flashback to '70s, begins to grow
May 29, 2022 midnight

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation is the bitterest of pills: High inflation mixes with a weak job market to cause a toxic brew that punishes consumers and befuddles economists. For decades, most economists didn't think such a nasty concoction was even possible.