Paul Krugman

@paulkrugman ↗

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Last Checked March 17, 2022

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Sun Feb 13 18:47:51 +0000 2022

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Paul Krugman @paulkrugman

If you start raising rates with the economy still well below capacity, which in retrospect is what happened in 2015, not much inflation risk on the upside; but bc inflation is sticky downward, not much on the downside either. 2/ — PolitiTweet.org

Posted Feb. 13, 2022

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Paul Krugman @paulkrugman

Good thread, but one question: Why doesn't monetary policy always face this kind of uncertainty? Part of the answer, I'd suggest, is that the Fed has generally tightened too soon, which seems safe but has large hidden costs 1/ — PolitiTweet.org

I'm uncertain about the trajectory of inflation. But even conditional on my inflation views, I'm even more uncerta… https://t.co/5yJsyWym2j

Posted Feb. 13, 2022

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Paul Krugman @paulkrugman

And because not much upside inflation risk, you can move gradually, so not much recession risk either. It's all good! Except that you end up reining in growth and jobs at a point with substantial slack, and hence big economic waste 3/ — PolitiTweet.org

Posted Feb. 13, 2022