Yellen: No One Wants a Return of 1970s Inflation

The video discusses the high inflation of the 1970s and compares it to the current inflation challenges. It highlights the difficulties faced in reopening economies after shutdowns, including changes in spending patterns and bottlenecks.

What was a significant economic issue during the 1970s?

• Low unemployment

• Rapid technological advancement

• Stable economic growth

• High inflation

What is one reason for the current surge in inflation?

• Technological disruptions

• Decrease in consumer demand

• Challenges in reopening the economy

• Increased global trade

What economic challenge is associated with reopening the economy?

• Increased workforce availability

• Decreased government spending

• Bottlenecks in production

• Stable supply chains

How have spending patterns changed during the economic reopening?

• They have remained constant

• They have decreased significantly

• They have experienced huge swings

• They have become more predictable

What is a consequence of the economic bottlenecks mentioned?

• Enhanced consumer confidence

• Increased production efficiency

• Reduced inflation rates

• Disruptions in supply chains