stagflation

The divisions exposed at the convention were not the only cause for Carter’s loss to Reagan — the U.S. hostages seized in Iran and “stagflation” were key.

Hopes have climbed that the economy can avoid what’s called “stagflation” and hit the bull’s eye where it cools enough to get inflation under control but stays sturdy enough to avoid a bad recession.

Powell does not see a risk of stagflation.

The inflation surge of 2021-22 temporarily boosted the credibility of critics of government spending, but this credibility evaporated when dire warnings about persistent stagflation proved utterly wrong.

When the economy is struggling to grow at the same time as there is high inflation, there can be a situation called "stagflation".