INDIANAPOLIS (WISH) — Concerns are rising over the potential for stagflation as slower economic growth and high unemployment continue to affect the U.S. economy.

“Stagflation,” a condition characterized by stagnant economic growth and high inflation, is feared to be on the horizon due to current economic trends.

On News 8 on Friday night, former Indianapolis Mayor Greg Ballard discussed measures to prevent stagflation, emphasizing the importance of controlling inflation even if it means accepting certain levels of unemployment.

“The rule of thumb is keep the prices as you want them to be, keep the inflation where you want it to be, and accept whatever unemployment has to come.”

During his tenure as mayor, Ballard focused on expanding global partnerships between Indianapolis and countries worldwide. He believes that international cooperation could help ease stagflation, although current fragile supply chains and tariffs pose challenges.

Ballard noted that tariffs have negatively impacted international cooperation and supply chains, suggesting that the economy functions better with minimal trade barriers.

He expressed support for free trade principles, referencing Adam Smith’s book “Wealth of Nations” as a guiding philosophy.

This story was created with artificial intelligence using a script aired on WISH-TV.

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