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Paul Krugman @paulkrugman

A key question is how much of the effect of Fed tightening on the real economy is still in the pipeline. I would say almost all of it, both on general principles — changing real investment plans in the face of financial conditions takes time — and history 1/ — PolitiTweet.org

My latest @WSJopinion addresses four arguments that are being made by the growing chorus of people urging the Fed t… https://t.co/PCGe5Hhv2L

Posted Oct. 5, 2022

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Paul Krugman @paulkrugman

GS says that almost half the excess demand for labor has already been eliminated — and so far we've barely begun to see the effects of tight money. The Fed may well have overshot https://t.co/2m8kbimuOs — PolitiTweet.org

Posted Oct. 5, 2022

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Paul Krugman @paulkrugman

Now, finding relevant history is hard. Since 1990, all US recessions have been the result of private-sector overreach (dotcom bubble, housing bubble) rather than Fed tightening, so they don't tell us much 2/ — PolitiTweet.org

Posted Oct. 5, 2022