Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 18, 2022

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Tue Oct 18 16:45:55 +0000 2022

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Paul Krugman @paulkrugman

But what if, as seems likely, core inflation stays high for a while because shelter is mostly continuing leases, so it reflects what was going on in rental markets many months ago — but not what's happening now? 3/ — PolitiTweet.org

Posted Oct. 18, 2022

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Paul Krugman @paulkrugman

If you want to know the cost of living, you just want the CPI. Core tries to answer different question: is the economy running too hot? The standard measure excludes food and energy prices because they're volatile and often driven by shocks that don't relate to this question 2/ — PolitiTweet.org

Posted Oct. 18, 2022

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Paul Krugman @paulkrugman

If you think the lagged effects of past rent increases, which don't reflect current overheating, are a reason for the Fed to tighten, you've misunderstood the principle, the reason we estimate core in the first place 4/ — PolitiTweet.org

Posted Oct. 18, 2022