Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 24, 2022

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Sat Oct 08 14:57:03 +0000 2022

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Paul Krugman @paulkrugman

This leaves three questions: 1. What is u*? 2. Do we need to go above it? 3. What Fed policy is needed to get where we need to go? 4/ — PolitiTweet.org

Posted Oct. 8, 2022

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Paul Krugman @paulkrugman

But if you accept that model, there is at any given time an unemployment rate — u* — at which actual inflation will more or less match expected inflation. (Don't like calling it a NAIRU — with anchored expectations, which we seem to have, u<u* doesn't cause accelerating inf) 3/ — PolitiTweet.org

Posted Oct. 8, 2022

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Paul Krugman @paulkrugman

Pre pandemic, u* seemed to be around 3.5, which is where we are now. However, high vacancies and high core inflation seemed to suggest a big rise. However however, vacancies coming down rapidly and wage growth not that high. 5/ https://t.co/cKIA55rDNB — PolitiTweet.org

Posted Oct. 8, 2022