Paul Krugman

Paul Krugman @paulkrugman

So this looks like an economy in which inflation shot up mostly because of special temporary shocks, but also bc of overheating; but policymakers are acting to cool things down, and both markets and consumers believe they will succeed. Why, then, the catastrophe talk? 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

But that's exactly what the Fed is doing. The Fed funds rate is still near zero, but that's irrelevant; the shift toward tightening has already led to large rises in the interest rates that are relevant to real investment spending 6/ https://t.co/JOHmKmSfwg — PolitiTweet.org

Paul Krugman @paulkrugman

But that doesn't necessarily tell us about psychology; arguably it just says that the economy is overheated, which, while I hate to say it, does seem to be true. And it calls for policies to cool things down 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

What about the claim that inflation has become much broader than it was last year? It's true: 4/ https://t.co/LICpHffSOV — PolitiTweet.org

Paul Krugman @paulkrugman

So markets are expecting roughly 5 percent inflation for the next year, but only 3.3 over 5 years — an implicit forecast that inflation will come down. That's also what consumers say 3/ https://t.co/YRyfET7c16 — PolitiTweet.org

Paul Krugman @paulkrugman

Here's what the market says. The top line is the 1-year interest rate minus the yield on index bonds coming due in a year — the implicit 1-year inflation forecast. The bottom line is the 5-year forecast 2/ https://t.co/3aCjDflVFR — PolitiTweet.org

Paul Krugman @paulkrugman

A brief thread on current inflation thinking — by the markets, consumers, and yours truly. I keep seeing people saying that we have inflationary psychology — but that's not really true, at least so far 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Another Civil War anniversary: on this day in 1863, Admiral David Porter's gunboats and transports ran past the batteries at Vicksburg. A few days later they would ferry U.S. Grant's army across the Mississippi, beginning the campaign that decided the war. — PolitiTweet.org

Paul Krugman @paulkrugman

The Night of the Long Tables — PolitiTweet.org

Paul Krugman @paulkrugman

The UWS is very livable (if you can afford the housing, a big if) But what’s here for tourists to see? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Drinking coffee on the Upper West Side. Tourists everywhere. Which is great for NYC! But a bit puzzled 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Still not as good as the co-workers who wished my father “happy Yom Kippur” — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: “The dollar’s dominance still looks pretty secure,” @paulkrugman notes. “That is, unless America also ends up being run by… — PolitiTweet.org

Paul Krugman @paulkrugman

Still not a penny for its working-class supporters https://t.co/5P9zTHOpNW — PolitiTweet.org

Paul Krugman @paulkrugman

Heroism in history: “Give me liberty or give me death” “They shall not pass” “Russian warship, go fuck yourself “ Vulgarity in the defense of liberty is no vice — PolitiTweet.org

Paul Krugman @paulkrugman

I read a lot of history; also like history on YouTube. Recent events remind me that during WW2 the Red Army had a habit of persisting far too long, at immense cost, with failed offensives https://t.co/PXCzYL5rh1 — PolitiTweet.org

Paul Krugman @paulkrugman

Also, what will happen if inflation really does come down over the next few months? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

The sound you hear is the weeping of a thousand bereaved narratives 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @TheStalwart: US consumer sentiment came in significantly better than expected. Not sure why. I guess people must have gotten a big real… — PolitiTweet.org

Paul Krugman @paulkrugman

Preview 2/ https://t.co/m6flOKJ0VH — PolitiTweet.org

Paul Krugman @paulkrugman

Info for Zoom registration for next Wednesday's Godley-Tobin lecture 1/ https://t.co/tV8ijXInWV — PolitiTweet.org

Paul Krugman @paulkrugman

FYI: On April 20, at Bucknell University, I'll be giving the Godley-Tobin lecture; I'll provide live-streaming info when I have it. Title: "The enduring relevance of Tobinomics" — PolitiTweet.org

Paul Krugman @paulkrugman

Inflation is likely to come down soon, but some of the improvement will be ... transitory https://t.co/lE8NrWWfn8 — PolitiTweet.org

Paul Krugman @paulkrugman

Right now the crucial thing is to stop Putin. The US and the UK, with all their flaws and all the reasons to fear for their future, are stepping up right now. Germany isn't, in part because it's too worried about access to natural gas 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

But Orban, as the head of a sovereign government, has far more tools of repression at his disposal than any state governor, so his awfulness matters more. And I'm not interested in an argument about whether Europe or America is worse; I'm interested in actions 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

I'm also getting a lot of "But US democracy is in worse danger than Europe's! DeSantis is worse than Orban!" Actually I agree on the first point (although ask me again after the French election, and it's quite possible that DeSantis would be worse than Orban — if he could 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Some of this is saying that I shouldn't be trying to shame Germany, because shaming is a bad thing and never works. But as my colleague points out, sometimes shaming is in fact appropriate and effective 2/ https://t.co/arjwdXGs7C — PolitiTweet.org

Paul Krugman @paulkrugman

I've been getting some upset mail from Europe about my two columns regarding German dependence on Russian gas and its consequences 1/ https://t.co/wzzW6P9jE7 — PolitiTweet.org

Paul Krugman @paulkrugman

No. Simple answers to simple questions. Also, probably not many headlines if, as seems likely, inflation drops in the months ahead. — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: One lesson from the ongoing supply chain issues, @paulkrugman tells @karaswisher, is that “the physical logistics of the ec… — PolitiTweet.org