I'm not sure what your point is. Or how you think it contradicts anything I said. The 1970s (i.e., stagflationary period) saw high inflation and low growth. That's not the current situation at all.
Don't disregard professional money managers, and federal reserve regulators just because they subscribe to sophisticated economic theories you don't understand. I'm sure most professionals in this field knows much more about inflationary and other macro-economic conditions in the 1970s period than you do.
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