Economy

Is America Prepared for the Inflationary Impact? This prominent problem likely reflects monetary policy mistakes dating back almost since the financial crisis of 2008–09. After a decades-long hiatus, inflation is back in the news. So far, the figures this year are startling, and as anyone who remembers the great inflation of the 1970s and 1980s knows, inflation, once it gains momentum, can devastate financial markets, distort economic decision making, and severely limit growth prospects. In the face of such concerns, Washington has shown little more than a kind of insouciance. Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen have [...]

JPMorgan CEO Jamie Dimon says stagflation could be one of a number of possible outcomes for the U.S. economy as the Federal Reserve attempts to tame stubbornly high consumer prices.In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained “cautious” about the U.S. economy and said inflation may be stickier for longer and that “stagflation is on the list of possible things” that could happen to the U.S. economy.“You should be worried about (the possibility of stagflation),” Dimon said.Dimon did emphasize that he's still “hopeful” for the U.S. economy to experience [...]