The Deeper Dive: The Second Coming of Stagflation

For Fed Chair Jerome Powell, this is the invisible monster. For the rest of us, it hides in plain sight; it stinks; and it burns.

We’re going to have to help Powell see straight. He said in his post-meeting presser that he does not see either the “stag” or the “flation” that would be necessary to currently be in a period of “stagflation.” If he can’t see the inflation part, he’s blind because it is not just that prices have stopped going down for months, as he acknowledged. They’v…