Think Inflation Is Bad Now? Let's Take A Step Back To The 1970s

May 29, 2021
President Jimmy Carter signs emergency natural gas legislation in the Oval Office of the White House in Washington, D.C., on Feb. 2, 1977. An oil crisis contributed to a period of double-digit inflation in the 1970s.

Prices are jumping as the economy rebounds from the pandemic, but the Biden Administration and the Federal Reserve say a return to 1970s-style inflation is unlikely.

(Image credit: AP)



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