Paul Krugman

@paulkrugman ↗

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Last Checked May 15, 2022

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Wed Mar 16 18:36:29 +0000 2022

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Paul Krugman @paulkrugman

Inflation that follows the peak of real spending really does reduce the true cost of borrowing; but inflation that occurs before that peak doesn't. So the inflation rate that we should be using to estimate real borrowing costs isn't the inflation rate starting today 11/ — PolitiTweet.org

Posted March 16, 2022

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Paul Krugman @paulkrugman

They have to take time to decide to build; make plans; get permits; hire contractors; break ground; and only then do they purchase goods and services. So they get to invest not at today's prices, but at prices some months, maybe >1 year out 10/ — PolitiTweet.org

Posted March 16, 2022

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Paul Krugman @paulkrugman

It's the inflation rate starting some time in the future — not multiple years out, but certainly multiple months out. And that makes a big difference when inflation expectations are, as I said, extremely front-loaded 12/ — PolitiTweet.org

Posted March 16, 2022