Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 9, 2022

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Sat Oct 15 12:18:50 +0000 2022

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Paul Krugman @paulkrugman

There's at least a case that the inflation numbers everyone is freaking out about are a delayed response to a structural shift in demand, reflected with a long lag in official data, not a symptom of currently high demand. In which case the policy response could b very wrong 8/ — PolitiTweet.org

Posted Oct. 15, 2022

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Paul Krugman @paulkrugman

So why were rents surging? Probably a structural shift in demand, largely due to work from home. Lots of stuff to unpack; what were people *not* buying as they demanded more housing, and how did that affect inflation? But narrative still needs rethinking 7/ — PolitiTweet.org

Posted Oct. 15, 2022

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Paul Krugman @paulkrugman

I'd add that elevated wage changes suggest that there is in fact some real overheating. But maybe not nearly as much as many people believe 9/ — PolitiTweet.org

Posted Oct. 15, 2022