Powell says 'stagflation' is a 1970s term, not what we face today - Reuters

Federal Reserve Chair Jerome Powell stated that "stagflation" is a term specific to the 1970s economic environment and does not characterize current U.S. economic conditions. Powell's remarks appear aimed at dismissing comparisons between today's inflation challenges and the severe combined stagnation and price pressures that defined that era. The distinction matters because stagflation language has circulated among economists and policymakers worried about slowing growth paired with persistent inflation. Powell's framing suggests the Fed views current economic dynamics as fundamentally different, likely reflecting confidence in the central bank's inflation-fighting efforts and economic resilience.