Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 21, 2022

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Wed Oct 05 20:17:33 +0000 2022

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Paul Krugman @paulkrugman

But look at the 1981-2 recession, which was a relatively pure case of the Fed hitting the economy upside the head. Long-term interest rates peaked in Sept. 1981, unemployment more than a year later 3/ https://t.co/8V7KQIerDK — 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

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Paul Krugman @paulkrugman

The wage between the big fall in rates in summer 1982 and Morning in America was shorter, but still ~6 months 4/ — PolitiTweet.org

Posted Oct. 5, 2022