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Podcast: Money Life with Chuck Jaffe
Episode: Steve Rick of TruStage says stagflation is starting now
Description: Steve Rick, chief economist at TruStage, says that he has lowered his forecast for economic growth to 0.5 percent, while raising his forecast for inflation to 3.5 percent; that combination means stagflation, and it's starting to happen now and could turn into recession if the growth slowdown is worse than expected. Rick notes that "No one wins trade wars" and notes that if the current situation plays out into one, that trade problems triggering huge downturns would seem to be a classic 100-year event. While he says the damage can be averted if economic policy changes are softened or mitigated, Rick...