Get used to hearing the term stagflation because this word is going to get thrown around a lot in the financial press. At Jerome Powell’s press conference on May 1, 2024, Powell downplayed concerns that the economy may be sliding into a period of "stagflation," which is marked by slow growth and stubbornly high inflation. Powell noted he was "around" for such a period in the 1970s and he dismissed any similarities in today's economy.

"I don't see the 'stag' or the 'flation,'" he said.

But are Powell and some economists too quick to downplay the chance of that the U.S. will experience slowing economic momentum with sticky inflation? We’ll take a look at that possibility today, followed by a warning to be wary of scams targeting seniors.