Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 30, 2022

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Wed Oct 12 12:24:11 +0000 2022

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Paul Krugman @paulkrugman

But that isn't a reason for tight monetary policy! If new-tenant rents are leveling off, which seems to be happening, this says that conventional measures of core inflation are about the past, not a good indicator of whether the economy is overheated now. 10/ — PolitiTweet.org

Posted Oct. 12, 2022

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Paul Krugman @paulkrugman

Finally, rent. Excellent new paper from the BLS shows that the CPI rent index lags a full year behind rents paid by new tenants, which means that core inflation likely to stay high bc of big rent rises in the past 8/ https://t.co/u44F0shqnH — PolitiTweet.org

Posted Oct. 12, 2022

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Paul Krugman @paulkrugman

Again, maybe this is more than a knee-jerk application of the concept of core inflation to unusual circumstances; maybe there's an argument saying that current monetary policy should react to the state of the rental market a year ago. But what is it? 11/ — PolitiTweet.org

Posted Oct. 12, 2022