Paul Krugman

@paulkrugman ↗

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Last Checked July 16, 2022

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Sat Jun 18 14:12:50 +0000 2022

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Paul Krugman @paulkrugman

So underlying inflation probably <4%, vs 2% target; headline is 7. So a real excess of inflation, but most — not all — is supply chains, Putin, etc that are, among other things, not related to US monetary or fiscal policy 3/ — PolitiTweet.org

Posted June 18, 2022

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Paul Krugman @paulkrugman

A quick and dirty chart comparing headline with three measures of underlying. Wages is rate of wage growth minus 1 percent for productivity; others are traditional core and trimmed mean 2/ https://t.co/RnEZ7Y1uCb — PolitiTweet.org

Posted June 18, 2022

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Paul Krugman @paulkrugman

But the politics are all about precisely the stuff monetary/fiscal didn't do, above all gasoline prices — which are, by the way, not all that high in real terms by historical standards 4/ https://t.co/Pr2mvjsdXV — PolitiTweet.org

Posted June 18, 2022