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Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 1, 2022

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Tue Jul 05 22:54:35 +0000 2022

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Paul Krugman @paulkrugman

Clearly, it isn't. And with commodity prices plunging — wholesale gasoline down almost a dollar from its peak — it seems hard to see how that happens 2/ https://t.co/EWa89wGI0i — PolitiTweet.org

Posted July 5, 2022

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Paul Krugman @paulkrugman

Nobody gets this, no matter how many times we explain it — but the point is NOT that the market knows. Clearly, it often hasn't. Instead, we're talking about whether continuing inflation is getting entrenched in expectations. the way it was in the 70s 2/ — PolitiTweet.org

Posted July 5, 2022

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Paul Krugman @paulkrugman

What this means is no need for a Volcker-style painful disinflation. Get demand back in line with supply — which Fed tightening is doing as you read this — and inflation will come back in line. This episode is starting to look ... transitory 4/ — PolitiTweet.org

Posted July 5, 2022