Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 20, 2020

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Sun Aug 30 15:58:36 +0000 2020

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Paul Krugman @paulkrugman

So, about that rescue: two crucial things kept the U.S. economy from going into total meltdown this spring. One was the Fed's extremely aggressive intervention to stabilize financial markets, which was basically Jerome Powell, not anyone in the Trump team 2/ — PolitiTweet.org

Posted Aug. 30, 2020

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Paul Krugman @paulkrugman

This is an interesting piece. But I'd say it implicitly gives Mnuchin far too much credit for the economic rescue of March, and also doesn't give the right take on who he is — the last oblivious but probably not fascist right-winger on the Trump team 1/ https://t.co/3nQYJAqMEC — PolitiTweet.org

Posted Aug. 30, 2020

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Paul Krugman @paulkrugman

The other was the CARES Act, which contained a bunch of stuff. All indications, however, are that the really crucial element was that $600 a week supplement to unemployment benefits. Those $1200 checks appear to mostly have been saved; it was UI that provided the stimulus 3/ — PolitiTweet.org

Posted Aug. 30, 2020