The June CPI reached 9.1%, once again a 40-year record high.With high inflation, the market is worried that the U. economy will fall into recession, and the earnings of listed companies may suffer a blow.Historical ExperienceEconomists' forecasts are always puzzling, so why not look at the economic trends of the 1970s when the U.S. experienced stagflation?As the chart below shows,in 1974, the U.S. CPI was as high as 12%, and GDP growth into recession; after 1979, the U.S. CPI exploded again to 14%, GDP growth also fell into recession.Today, 9.1% is highly possble to bring the U.S. economy into recession.1. Let's look at $S&P 500(.SPX)$ trend:1. th