Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 17, 2022

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Fri Jul 15 17:40:28 +0000 2022

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Paul Krugman @paulkrugman

A quick thread on curves and what it means to get behind them, inspired by the latest Michigan inflation expectations print — which is one of multiple indicators that inflation expectations remain muted 1/ https://t.co/ZdJRMHEmMy — PolitiTweet.org

Not just one number. 5-year breakeven at 2.54. NY Fed survey is also at 2.8% for 5 years; 3.6% at 3 years, down fro… https://t.co/AB7b3FkFhs

Posted July 15, 2022

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Paul Krugman @paulkrugman

Not just one number. 5-year breakeven at 2.54. NY Fed survey is also at 2.8% for 5 years; 3.6% at 3 years, down from 3.9 last month. Absolutely zero evidence of inflation getting entrenched — PolitiTweet.org

University of Michigan 5-year preliminary inflation expectations: 2.8% Was: 3.1% Forecast: 3.0% Just one number, b… https://t.co/AlmicjDCZd

Posted July 15, 2022

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Paul Krugman @paulkrugman

First, yes, the Fed — and a number of economists, me included — called inflation wrong over the past year and a half, which has a reputational cost. Fair enough. But when people talk about policy getting behind the curve, they mean more than being embarrassed 2/ — PolitiTweet.org

Posted July 15, 2022