And fears of 1970s-style stagflation — high inflation and stagnant economic growth — could become a reality.

Source: https://fortune.com/2023/01/03/inflation-outlook-forecast-2023-federal-reserve-2-political-problems/

But right now, there are growing concerns about stagflation which is the scenario of no immediate landing.

Source: https://investorplace.com/2023/02/3-bargain-stocks-worth-buying-at-these-52-week-lows/

If oil prices rise sharply, that will indeed weigh upon equities and reignite stagflation fears.

Source: https://www.shorenewsnetwork.com/2023/06/24/russia-turmoil-to-fuel/

The question is whether we are going to use this opportunity to enact the kinds of policies that generate domestic abundance and prosperity or whether we are going to continue the current stagflation path of redistribution and austerity.

Source: https://dailycaller.com/2023/04/25/opinion-a-down-payment-on-fiscal-sanity-michael-faulkender/

Transition to stagflation may lead to falling rates on the front of the yield curve and impact credit spreads and risk assets.

Source: https://seekingalpha.com/article/4647315-stagflation-may-finally-be-here?source=feed_all_articles