Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 1, 2022

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Wed Jul 06 14:03:12 +0000 2022

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Paul Krugman @paulkrugman

Now, bond markets don't set wages and prices, so what we really want are the expectation of people who do — which could in principle be different. Consumer surveys like Michigan and NYFed still don't quite get there, but it would be worrisome if they told a v different story 6/ — PolitiTweet.org

Posted July 6, 2022

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Paul Krugman @paulkrugman

To emphasize for the MMXXIIth time, not saying that the markets are right, only that they show no sign of expectations of inflation getting entrenched, which is what you need for stagflation 5/ — PolitiTweet.org

Posted July 6, 2022

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Paul Krugman @paulkrugman

So far they don't, although when we get numbers for June they may not reflect the recent downshifting in expectations. In particular, retail gas prices didn't peak until mid-June 7/ https://t.co/VepIpM7bnc — PolitiTweet.org

Posted July 6, 2022