Former Obama economist warns stagflation threat level is 'highest in a long time'

Posted on AllSides June 27th, 2022
From The Right
(Sarah Silbiger/Bloomberg via / Getty Images)

The danger of the U.S. economy returning to a 1970s-style stagflation scenario is the highest it's been in decades, according to former President Barack Obama's top economic adviser.

Jason Furman, a Harvard University professor who previously served as chair of the Council of Economic Advisers, warned that an aggressive Federal Reserve, rising interest rates and persistently high inflation have raised the possibility of a period of stagnant economic growth and high consumer prices.

"It's a real risk," Furman said during an interview with FOX Business. "It's the biggest risk of stagflation we've...

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