Daily news
May 5, 2024

Fed chair Jerome Powell: No sign of stagflation in U.S. economy

Fed Chair Jerome Powell recently stated that there are no signs of stagflation in the U.S. economy. Stagflation refers to a situation in the economy where the inflation rate is high and the economy isn't growing but instead is stagnant, which creates a lot of economic pressure. Powell's comment suggests that, despite current inflation concerns, the economy is not static but actively growing. This interpretation is often viewed positively, as sustained stagflation can have severe adverse effects on a nation's economic health.