Paul Krugman

@paulkrugman ↗

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Last Checked July 22, 2020

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Sat Jun 15 14:14:58 +0000 2019

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Paul Krugman @paulkrugman

The most immediate problem is that there isn't enough room to cut. In past recessions the Fed has on average cut by 5 percentage points, and even that wasn't enough to avoid long "jobless recoveries". This time they only have room to do half that much 2/ https://t.co/iN7EVjFSvw — PolitiTweet.org

Posted June 15, 2019 Hibernated

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Paul Krugman @paulkrugman

Actually, none of the reasons given here are why I doubt that a Fed rate cut would be very effective, or in general why we're so badly prepared to fight a slump if it happens 1/ https://t.co/UEpehm9mQO — PolitiTweet.org

Posted June 15, 2019 Hibernated

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Paul Krugman @paulkrugman

Also, long-term rates -- which are what matter for investment – are already very low. How much lower would a Fed cut push them? And what would they drive? Monetary policy works largely through housing, and while we aren't in 2006-bubble territory, housing already high 3/ https://t.co/eCX6OafZlz — PolitiTweet.org

Posted June 15, 2019 Hibernated