With all the attention distracted by lots of other things, the Federal Reserve Board met. Yes, a small decrease in the Fed rate but more important to our economic future was this statement: "Job gains have slowed, and the unemployment rate has edged up... Inflation has moved up and remains somewhat elevated.” Hey folks who were around during the Nixon/Ford Administrations, that nasty stagflation is back. This statement is the definition of stagflation and there’s no fiscal policies being put forward by the current administration to stall its inevitable march forward.