Paul Krugman

@paulkrugman ↗

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Last Checked June 5, 2021

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Wed May 19 19:33:02 +0000 2021

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Paul Krugman @paulkrugman

This might sound pointless, but there were some major risk perceptions — the whole system almost froze up in March 2020 — which the Fed controlled by stepping in as intermediary. And it's not a problem! In particular, no, the Fed wasn't inflating away private wealth 5/ — PolitiTweet.org

Posted May 19, 2021

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Paul Krugman @paulkrugman

And the Fed bought around $2 trillion in USG debt, which paid for the aid packages that made it possible for households to put all that money in banks 4/ https://t.co/a84RXtM3M9 — PolitiTweet.org

Posted May 19, 2021

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Paul Krugman @paulkrugman

But bank deposits are counted in M2, so if you have a crude view that thinks everything in M2 is like freshly minted Venezuelan bolivars, you start shrieking about inflation. Sorry, that's not what happened 6/ — PolitiTweet.org

Posted May 19, 2021