Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 8, 2022

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Sat Sep 03 13:46:46 +0000 2022

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Paul Krugman @paulkrugman

And if you apply estimates of the sacrifice ratio to the gap between core inflation and the Fed's 2 percent target, it's ugly: it says that we need a lot of excess unemployment in the years ahead 7/ — PolitiTweet.org

Posted Sept. 3, 2022

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Paul Krugman @paulkrugman

Given that picture, bringing inflation down would require a period of unemployment higher than u*. How much higher for how much longer? The "sacrifice ratio" was an estimate of how much excess unemployment would be needed to bring inflation down by one point 6/ — PolitiTweet.org

Posted Sept. 3, 2022

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Paul Krugman @paulkrugman

But is this calculation relevant? Both market prices and surveys suggest that medium-term inflation expectations have remained "anchored" despite recent inflation 8/ https://t.co/Ilf2gNL7DB — PolitiTweet.org

Posted Sept. 3, 2022