What is stagflation and should we be worried? : The Indicator from Planet Money GDP numbers for the third quarter just dropped and they are... not awesome. With the economy experiencing slower than expected growth and rising prices, are we entering into a period of stagflation?

Is the economy going stag(flation)?

Is the economy going stag(flation)?

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Niels Christian Vilmann/AFP via Getty Images
A Red deer stag roars in Dyrehaven in Klampenborg, north of Copenhagen, Denmark on September 26, 2019.
Niels Christian Vilmann/AFP via Getty Images

This morning the Bureau of Economic Analysis dropped GDP numbers for the third quarter and they were... not awesome. 2% growth in the before times would have been pretty solid, but now it's kind of measly compared to last quarter's 6.7% growth.

Now that economic growth is slowing down and prices are rising, is it time to raise the alarm on stagflation? Economist Luigi Zingales from the Chicago Booth School of Business comes back on the show to talk about what stagflation is and how worried we should be about it.

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