federal reserves...
You may be correct about deflation as normally defined not happening, even though a recession (global) seems inevitable. My guess is that the current inflation we are seeing will abate due to the downward pull of the global recession, but I do not rule out completely the stagflation scenario you postulate - the Fed seems intent on printing all the money it can. My question is whether or nor they can actually get that money into the real economy, and for now I remain doubtful.
mlsoft