Fears of 1970s-style stagflation are back in the air .

对于20世纪70年代那种滞胀的担忧再度出现。

Instead , the world is sliding into stagflation .

恰恰相反，世界正跌向滞涨之中。

The risks of a new stagflation are mounting .

出现新一轮滞胀的风险正不断加大。

A few months ago , stagflation seemed a serious threat .

数月前，滞胀看起来是一种真正的威胁。

America was mired in stagflation , with an unemployment rate nearing double digits .

美国当时正处在接近两位数的失业率下的滞胀的泥潭之中。