A state of economic stagnation known as stagflation is characterized by inflation, high unemployment, and slow economic growth. This confluence is particularly challenging for economic policymakers to manage because trying to address one issue can make another worse. During the 1973–1975 recession, the phrase first appeared.
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What is stagflation?
A period of slow economic growth, a high unemployment rate, and inflation are all signs of a stagflation cycle. Due to the potential for aggravating one of the factors, economic policymakers find this combination particularly challenging to manage. The term was revived in the United States during the oil crisis of the 1970s, which led to a recession with five quarters in a row of negative GDP growth. From 1973 to 1974, inflation doubled and reached double digits. By May
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