Paul Krugman

@paulkrugman ↗

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Last Checked July 9, 2021

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Sun May 10 14:06:29 +0000 2020

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Paul Krugman @paulkrugman

So where does the Covid-19 slump fit? Despite myself, I'm (very) guardedly optimistic. The virus is arguably more like the shock of temporarily high interest rates than like an overhang of excess household debt. So fairly fast recovery seems possible 8/ — PolitiTweet.org

Posted May 10, 2020 Hibernated

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Paul Krugman @paulkrugman

I think we understand the difference. Slumps like 1979-82 brought on by the Fed raising rates to squeeze down inflation; as soon as it relented demand sprang back. Later slumps were Minsky moments, when the private sector realized it had overreached. Much harder to restart 7/ — PolitiTweet.org

Posted May 10, 2020 Hibernated

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Paul Krugman @paulkrugman

The market doesn't seem to agree! Never mind stocks: medium-term interest rates suggest that the market expects policy rates to be near zero for a long time 9/ https://t.co/ejt3fDlfzJ — PolitiTweet.org

Posted May 10, 2020 Hibernated