It mostly happened under him. In the middle east you had the 6 day war, forming of OPEC, 76 oil crisis, new space competition with Russia, fall of the Shah of Iran, and there's more but it's wild time in history, especially middle eastern politics. People waited in line for gas, they attributed a lot of that fault to Carter. These "brown people" in the desert are holding back our gas, we built most of that infrastructure.. That was a lot of the attitude. And with higher fuel costs, rationing and all everything gets more expensive.

Carter also tried to put us on good footing internationally by being fair and honest. Hw tried to work for everyone's mutual benefit. Reagan fucked him over with that sentiment. He also backdoor negotiated with the allatoyah to hold the hostages until after the election and used it against Carter. Reagan was an asshole. Trump aspires to be 10% as horrible as he was to this country.

He took the hit to improve the economy long term. With Paul Volker, they raised interest to cool the economy and stop inflation. It was the responsible thing to do, but that let Ronald Reagan to run on fixing the economy, which is what Carter was doing.
Reagan comes in, gives everyone a free lunch tax break and has the biggest recessions since the depression while exploding the debt and losing a half a million manufacturing jobs that never came back