Powell says U.S. economy is not experiencing stagflation

• Powell asserts the U.S. economy is not experiencing stagflation.
• He defines 1970s stagflation by double-digit unemployment and super-high inflation (misery index).
• Current unemployment is close to longer-run normal, and inflation is only one percentage point above that, indicating a less severe situation than historical stagflation.

Federal Reserve Chair Jerome Powell states that the U.S. economy is not currently experiencing stagflation, distinguishing it from the severe conditions of the 1970s. He highlights that current unemployment is near long-run normal, and inflation, while elevated, is not at the double-digit levels seen during historical stagflation.