From subprime mortgages to quantitative easing – these obscure financial terms have a habit of suddenly becoming hot conversational topics during global economic crises.
And now another. “Stagflation.”
The World Bank is warning the world could be facing stagflation—– a period of high inflation combined with a shrinking economy.
To understand what that might mean for consumers and corporations alike, CGTN’s Owen Fairclough looked back at the 1970s – the last time stagflation occurred in the U.S.