Recent data and reports indicate a concerning economic trend in the US, with GDP growth for Q1 2024 at 1.6%, below expectations, and core inflation rising to 3.7%. This has led to a surge in mentions of 'stagflation' on Bloomberg and Wall Street, raising fears of a scenario reminiscent of the 1970s.
It's official: Inflation is soaring while the economy grinds to a halt. As Business Insider put it, "The US economy may be barreling towards stagflation, an outcome worse than recession." Last time they screwed up this bad we got years of double-digit unemployment *and*… https://t.co/JrwfDi4qSL
Growing concern on Wall Street: America hurtling towards a black scenario? Persistent inflation and a cooling economy could lead to a "stagflation" scenario similar to what happened in the 1970s, Wall Street analysts say.
Back-to-back disappointing economic reports renew fears of 'stagflation' https://t.co/hrjSMCRcoL
1/ The latest US activity and inflation data send a stagflationary signal, with GDP slowing to 1.6% q/q ann. from 3.4% in Q4 and slightly below potential for the 1st time in 18 months, and core inflation rising to 3.7% from 2%. Where do we really stand in the US business cycle? https://t.co/lEfnmiAGLh
You can't make this up: The number of articles mentioning “stagflation” just spiked to the highest level since June 2022. News stories on Bloomberg citing “stagflation” reached more than 600 on Thursday. This came after US GDP growth for Q1 2024 GDP came in at 1.6%, well… https://t.co/y4VDojO5Qe