Is it true that the US suffered both high unemployment and high inflation in the mid 1970s?

Yes, it is true that the U.S. experienced both high unemployment and high inflation in the mid-1970s, a phenomenon known as stagflation. This period was characterized by rising prices, driven by factors such as oil price shocks and supply chain issues, while economic growth slowed, leading to increased unemployment. The combination of these two economic challenges was unusual and posed significant policy dilemmas for the government and the Federal Reserve.