Paul Krugman

@paulkrugman ↗

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Last Checked July 24, 2022

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Sun Jun 26 12:16:04 +0000 2022

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Paul Krugman @paulkrugman

Why do we care about expected inflation (as opposed to actual, current inflation)? Because it's central to stories about stagflation. In a world in which everyone expects 10% inflation, prices will tend to rise by 10% a year even if overall supply and demand are in balance 2/ — PolitiTweet.org

Posted June 26, 2022

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Paul Krugman @paulkrugman

Given the crisis of American democracy, it seems almost wrong to write about inflation expectations. And the economy may be less central to the midterms than seemed likely just a week ago. But life and macroeconomics go on, and there have been some important developments 1/ — PolitiTweet.org

Posted June 26, 2022

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Paul Krugman @paulkrugman

And getting entrenched inflation down probably requires a sustained period of above-normal unemployment. So we want to know if inflation is entrenched in expectations — something we try to judge not by 1-year expectations (which are mainly gas prices) but by medium term 3/ — PolitiTweet.org

Posted June 26, 2022