Paul Krugman

@paulkrugman ↗

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Last Checked May 15, 2022

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Wed Mar 16 18:38:01 +0000 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

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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

I think there are other issues involving the role of oil prices and supply-chain issues, but am still working those out. Nor do I want to argue out right now how far the Fed may be behind the curve. My point for now is analytic 13/ — PolitiTweet.org

Posted March 16, 2022