Nobel economist Paul Krugman says stagflation risk is rising, even after the Fed dismisses it

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• Economist Paul Krugman thinks the risk of stagflation for the US is rising.
• Krugman is concerned, even after Fed Chair Powell said he doesn't see stagflation.
• The economist said he sees strong parallels to the 1970s, when inflation rose and growth slowed.

Economist Paul Krugman said he thinks stagflation risk is on the rise, even after Federal Reserve Chairman Jerome Powell pushed back on the idea in his press conference on Wednesday.