Ex-Federal Reserve chair says US economy is heading toward period of stagflation for first time since 1970s

https://nbcnews.tribe.so/group/ex-federal-reserve-chair-says-us-economy-is-heading-toward-period-of-stagflation-for-first-time-since-1970s-ceo-of-goldman-sachs-says-risk-of-america-falling-into-a-recession-is-very-very-high

I honestly don't know how to react to the amount of new quotes coming up all over the news. How would a period of stagflation affect your wallets and bank accounts? What do you guys think about this new trend of recession becoming a thing even though we're kinda already in one?

It's almost as if these professionals at the fed are trying to calm you down but purposely doing it horribly in order for you to stash your life savings into the rapidly increasing interest rates.

Let's have a civilized discussion, my fellow men and women.