Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 10, 2022

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Thu Sep 08 17:51:15 +0000 2022

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Paul Krugman @paulkrugman

Or are we in part looking at a one-time adjustment to changes in work-life patterns? I suspect there's some of that. Obviously you don't want to throw out all the positive numbers. But wages, for example, suggest lower underlying inflation than their measure 5/ — PolitiTweet.org

Posted Sept. 8, 2022

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Paul Krugman @paulkrugman

Another issue is the measure of core inflation. They prefer median inflation, which I too was fond of for a while. But at this point, as I understand it, median inflation is basically housing. So is housing a good measure of underlying inflation? 4/ — PolitiTweet.org

Posted Sept. 8, 2022

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Paul Krugman @paulkrugman

One interesting point in their paper is that they give only a small role to rising inflation expectations. This is very different from the 70s. They suggest that expectations may yet become unanchored in the face of high actual inflation, which is certainly a worry 6/ — PolitiTweet.org

Posted Sept. 8, 2022