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Dave Ramsey: What Is Stagflation, and Should You Be Worried?

Dave Ramsey: What Is Stagflation, and Should You Be Worried?

If you've watched or read any financial news lately, chances are good you have heard the term "stagflation" used in recent weeks or months. Personal finance expert Dave Ramsey has explained stagflation as "an economic term that describes when economic growth is slow or negative and inflation and unemployment are high." Stagflation essentially refers to a stagnant economy with slow or negative growth combined with a period of high inflation when prices are high.