The strength of the U.S. economy and risk of stagflation

At a recent community breakfast in Kalamazoo, Upjohn Institute President Mike Horrigan outlined a U.S. economy that remains resilient but that is showing signs of strain. Horrigan pointed to slowing GDP growth, declining consumer confidence, and a cooling labor market. At the same time, inflation has eased from its peak but remains persistent in key areas including housing and services. The combination raises a key question: Are early signs of stagflation beginning to emerge? Horrigan stopped short of that conclusion but emphasized the growing tension between prices and employment, painting a picture of continuing economic uncertainty. Watch the video for Horrigan’s full analysis.