Axios: The “s” word is back. Yes, 1970’s and stagflation. (High inflation High Unemployment)

Posted on March 10, 2026 by michelleclarke2015
The “s” word is back
 
Illustration: Sarah Grillo/Axios

1970s-era stagflation talk is rising on Wall Street, Axios’ Emily Peck reports.

Investors fret a comeback for the dreaded pairing of high inflation and high unemployment. The fear is being fueled by a lousy jobs report and rising oil prices. 

Yesterday alone, at least six investment managers and Wall Street analysts warned of “stagflationary” concerns.

Chicago Fed President Austan Goolsbee noted Friday that rising unemployment on top of an oil price shock creates “exactly the kind of stagflationary environment that’s as uncomfortable as any that faces a central bank.” 

Analysts and media last tossed out the “s” word when inflation revved up in 2021.

The term “stagflation” really took off the next year, when Russia invaded Ukraine, spiking energy prices.

Many pundits predicted a recession that never materialized.

Today is different for two reasons:

The job market is more sluggish than it was a few years ago.

The oil shock from the Iran war is potentially magnitudes larger than that from Russia’s invasion, taking 20% of the global oil supply off the board. 

Reality check: It’s not the ’70s.

Economists believe the Iran war will slow economic growth and cause an increase in inflation — but not to the extremes seen back then.

The bottom line: Michael Madowitz, principal economist at the progressive Roosevelt Institute, said this shock is “probably just going to slow the economy down, rather than trigger some long wave of inflation.”Go deeper.
    
 
 
2. 🤖 Meta scoops up Moltbook
 
Illustration: Brendan Lynch/Axios

Meta has acquired Moltbook, a viral social network designed for AI agents, Axios’ Ina Fried scoops.

The deal brings Moltbook creators Matt Schlicht and Ben Parr into Meta Superintelligence Labs. 

Meta didn’t disclose Moltbook’s purchase price.

The deal is expected to close mid-March, Meta says, with the pair starting at MSL on March 16.

A Meta representative tells Axios: “The Moltbook team joining MSL opens up new ways for AI agents to work for people and businesses.”What is Moltbook?
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About michelleclarke2015

Life event that changes all: Horse riding accident in Zimbabwe in 1993, a fractured skull et al including bipolar anxiety, chronic fatigue …. co-morbidities (Nietzche 'He who has the reason why can deal with any how' details my health history from 1993 to date). 17th 2017 August operation for breast cancer (no indications just an appointment came from BreastCheck through the Post). Trinity College Dublin Business Economics and Social Studies (but no degree) 1997-2003; UCD 1997/1998 night classes) essays, projects, writings. Trinity Horizon Programme 1997/98 (Centre for Women Studies Trinity College Dublin/St. Patrick's Foundation (Professor McKeon) EU Horizon funded: research study of 15 women (I was one of this group and it became the cornerstone of my journey to now 2017) over 9 mth period diagnosed with depression and their reintegration into society, with special emphasis on work, arts, further education; Notes from time at Trinity Horizon Project 1997/98; Articles written for Irishhealth.com 2003/2004; St Patricks Foundation monthly lecture notes for a specific period in time; Selection of Poetry including poems written by people I know; Quotations 1998-2017; other writings mainly with theme of social justice under the heading Citizen Journalism Ireland. Letters written to friends about life in Zimbabwe; Family history including Michael Comyn KC, my grandfather, my grandmother's family, the O'Donnellan ffrench Blake-Forsters; Moral wrong: An acrimonious divorce but the real injustice was the Catholic Church granting an annulment – you can read it and make your own judgment, I have mine. Topics I have written about include annual Brain Awareness week, Mashonaland Irish Associataion in Zimbabwe, Suicide (a life sentence to those left behind); Nostalgia: Tara Hill, Co. Meath.
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