a period that combines rising interest rates with rising inflation rates, a situation that would hit both red and blue state Americans right where it hurts, in the pocketbook
falls somewhere between a soft landing and a recession. That is, an economic slowdown to 1% to 2% growth, which is good for containing inflation but teeters on the edge of recession.
the economic pull-back after a government steps in to slow an economy
A term used to describe an economy going into recession as the government attempts to slow down inflation.