“the dreaded ‘S’ word” - Stagflation
References to the sticky situation appeared in news headlines all week. The Wall Street Journal reminded readers of the neologism’s origins as a catchy way to describe an environment of slowing or stagnant economic growth, jobs losses, plus inflation.
Then things really came to a head on Friday. The May reading of the U.S. consumer-price index deflated hopes on Wall Street, and in Washington that inflation had already reached a “peak.” Instead, the headline inflation number for May came in at 8.6% annualized, a new cycle high.
MarketWatch 11 June 2022
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