Paul Krugman

@paulkrugman ↗

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Last Checked May 10, 2020

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Mon Mar 25 12:56:46 +0000 2019

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Paul Krugman @paulkrugman

We're not that close to zero now, but possibly still low enough that some of the same effect persists. The yield curve inversion in 2006 reflected at least some probability that the Fed might cut rates by 500 basis points. Now, it doesn't have 500 bp to cut.5/ — PolitiTweet.org

Posted March 25, 2019 Hibernated

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Paul Krugman @paulkrugman

As I explained long ago, when short rates are near zero, the yield curve HAS to be upward sloping, because rates can go up but not down. 4/ https://t.co/I7JDqHijFA — PolitiTweet.org

Posted March 25, 2019 Hibernated

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Paul Krugman @paulkrugman

So this inversion actually reflects a worse outlook for the economy than the number itself suggests. Again, it's not a direct read on the economy; it's a read on what the average bond investor thinks is happening to the economy. But still not encouraging 6/ — PolitiTweet.org

Posted March 25, 2019 Hibernated