From the Heritage Foundation, I'm Tim Desher, and this is Heritage Explains.

And this is Heritage Explains.

This year we've been focusing a lot on an issue that hasn't been a big deal for many years.

Inflation.

For the most part, it's always here, but it doesn't have as big of an impact as it's had this year. It's a real consequence to real people. Real cost and real loss. But recently, we've added a word to this discussion that deserves a bit of time,

especially for people like me who weren't alive in the 70s.

It's the S word.

A lot of people are jumping on this and saying, all right, we had a sputtering jobs report, right?

We have companies beginning to warn about how that's going to impact their bottom line, and we have

prices running rampant. Does that sound like anything to you? Well, a lot of people of a certain age,

I'm way too young to remember, of course, myself, they harken back to the days of Jimmy Carter

when we had

something called stagflation, a slowing economy, but prices going just the other way. They were

soaring. Could we be looking at that right now? The reason that stagflation is such a concern or that

economists get so worried about it is because we're talking about a slowing economy. So at the same time, consumers are suffering from the effects of a bad economy.

They're also paying more for goods and services.

So essentially this creates a double whammy.

Omicron and supply chain crises and other things like Biden's spending may lead to stagflation.

Stagflation.

Stagflation.

Stagflation.

Jimmy Carter stagflation type moment.

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