Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 14, 2022

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Wed Jul 13 22:50:17 +0000 2022

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Paul Krugman @paulkrugman

Also, weird echo of early 2010s when analysts responded to cyclical decline by reducing estimates of potential output. And funny how the story has shifted from”we need a period of 5% unemployment” to “5% is permanent” 3/ — PolitiTweet.org

Posted July 13, 2022

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Paul Krugman @paulkrugman

Indeed. If we’re way below the NAIRU shouldn’t wage growth be accelerating, not falling? 1/ — PolitiTweet.org

Wage growth has decelerated and is close to where it needs to be for 2-3% inflation. That means whatever you think… https://t.co/YoFSzjtmlX

Posted July 13, 2022

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Paul Krugman @paulkrugman

Of course could be true. But cost of wrongly accepting high U as the norm would be huge 4/ — PolitiTweet.org

Posted July 13, 2022