Are we heading for stagflation on a close-to-global scale?

Yesterday, I hoped for a small interest rate cut and got what I wished for (0.25bp last night). I wonder if this could be a signal of Fed giving a higher likelihood to the stagflation scenario? I am in no way an expert on monetary policy and inflation but I have wondered for a long time why so few seem to consider a stagflation scenario even a remote possibility. Why is that? We seem to head for a severe downturn as well as an increase in all kind of prices and assets. And this has been going on behind the scenes for quite a long time now (if you open your eyes and live on a five-figure salary). I think.....