Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 12, 2022

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Wed Jul 13 13:01:47 +0000 2022

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Paul Krugman @paulkrugman

If it signals a more dovish turn if, as Josh and I both expect, underlying inflation looks better by the next FOMC meeting, not too much damage will have been done. Markets pricing in much slower inflation looking forward; if this starts to show in real data, we'll be OK 3/ — PolitiTweet.org

Posted July 13, 2022

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Paul Krugman @paulkrugman

The good news is that I don't think this matters much. The long-term rates that matter for the real economy much more dependent on how high Fed funds eventually goes than on the precise path. The question really is how the Fed reacts if/when the numbers improve 2/ — PolitiTweet.org

Posted July 13, 2022

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Paul Krugman @paulkrugman

Actually, BLS rent measures have probably understated "true" housing inflation, bc they measure avg rent paid, not soaring rents on new leases. At this point, however, they're failing to reflect what looks like a big slowdown in rents 1/ — PolitiTweet.org

One big reason "core" inflation accelerated in June: Rents rose 0.8% in June, the fastest one-month gain since 1986… https://t.co/thjbhnewXE

Posted July 13, 2022