Just in time for Nationwide Smaller Organization 7 days, stagflation is arriving. On Thursday, the Commerce Division introduced the overall economy shrank by 1.4 per cent in the to start with quarter — properly below analysts’ estimates. On Friday, the Commerce Section revealed the Own Use Expenses selling price index, the Federal Reserve’s chosen inflation indicator, rose at its quickest fee in extra than 40 a long time. This mix of a contracting financial state and runaway prices equals stagflation, which the economic system has not expert considering the fact that the 1970s. President Biden responded to the GDP decrease by blaming “technical variables,” Russian President Vladimir Putin’s war in…