#PowellRemarks The term stagflation is likely to become especially popular soon, in light of current events, so this post is, just in case, for those who have not encountered it.

Stagflation is an economic phenomenon characterized by a combination of high inflation, low economic growth, and often, increased unemployment. In the context of the current situation – unchanged Federal Reserve rates (4.25–4.5%), a cautious forecast for two rate cuts in 2025, criticism of Trump and tariff policy, as well as the growth of the crypto sector (for example, Circle's stock up 34% after the GENIUS Act) – stagflation presents a significant risk.