Paul Krugman

Paul Krugman @paulkrugman

Supply chain issues, academic edition https://t.co/nUaacOJyCS — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jasonfurman: Earlier I reacted to some tweets from @paulkrugman without reading the article he linked to. That article was thoughtful &… — PolitiTweet.org

Paul Krugman @paulkrugman

Seriously no insult was intended! And you should feel vindicated! — PolitiTweet.org

Paul Krugman @paulkrugman

Planning to devote tomorrow's newsletter to the question of what happens if the Fed is wrong 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

The Fed is still betting that it can slow inflation with little pain by tapping the brakes lightly. Very curious to see how the hawks react. Will Jason Furman say "OK, the Fed is following my recommendations?" Will Larry S make a big deal over 3 rate hikes instead of 4? 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

One odd thing about this debate is that the actual policy demands of the inflation hawks have been pretty moderate: an end to bond purchases (which I've always supported) and a baseline of fairly modest rate hikes. And that's what the Fed just delivered 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

I say sort-of pivot because while the Fed has stopped saying "transitory", it still seems to believe that much of the inflation we're currently experiencing will fade away without the need to impose a lot of economic pain 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

My long take on inflation. Timing was fortuitously good — right after the Fed's sort-of pivot, which I was able to incorporate 1/ https://t.co/LwvwHJ6lgv — PolitiTweet.org

Paul Krugman @paulkrugman

So, how scared should you be of omicron if you're almost 69 but you're triple-vaxxed and your Fitbit says your cardio fitness is excellent? Asking for a friend. And yes, I know that the answer is to be very careful. — PolitiTweet.org

Paul Krugman @paulkrugman

Really curious to see what moderate inflation hawks say now. The Fed has given them more or less what they said they wanted: an end to QE and a default position of moderate rate hikes next year. Do they declare victory or find new reasons to fulminate? — PolitiTweet.org

Paul Krugman @paulkrugman

Reading the Fed statement, and its careful avoidance of the T-word, I wonder if some linguistic help might be in order. Maybe henceforth refer to inflation as "fugacious"? https://t.co/ZB97auNsAm — PolitiTweet.org

Paul Krugman @paulkrugman

Is wage growth an important contributor to inflation? Is inflation a major contributor to wage growth? NOT the same question — and you need to answer "yes" to both to have a wage-price spiral. Not saying that it can't happen, but important to be clear what to worry about. — PolitiTweet.org

Paul Krugman @paulkrugman

Yes — PolitiTweet.org

Paul Krugman @paulkrugman

Media discourse is all "Yikes! Inflation!" But the market seems much less worried than even a month ago. Could be signs of Fed hawkishness, I guess. But it's an interesting divergence https://t.co/lqkikHIZr4 — PolitiTweet.org

Paul Krugman @paulkrugman

In 2019, per capita personal income in KY was 44K; in NJ, 70K. So NJ paid much more into the program than it got back, KY much less. Fulminate all you like, but the fact is that high income states, especially in the tristate area, are aiding the heartland big time 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Medicare spending is pretty flat across states — about the same in KY and, say, NJ. But the program is paid for by a payroll tax (part A) and income taxes (the rest), so amount paid in is strongly dependent on income per capita 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Getting some pushback from people who refuse to believe that red states are being subsidized by blue. Not that I think it will really help, but let's talk about Medicare 1/ https://t.co/PoLNXZ8vNL — PolitiTweet.org

Paul Krugman @paulkrugman

I guess I should add that despite all that — and despite the fact that boarding trains at Penn is kind of like the running of the bulls at Pamplona — I've always found both NJT and Amtrak extremely functional, much better than driving or flying in the NE corridor — PolitiTweet.org

Paul Krugman @paulkrugman

Also preserve the NJT escalators, which seem to embody a highly sophisticated technology — they're always running down to the platform when you're trying to get up to the concourse, and up to the concourse when you're trying to get down to the platform — PolitiTweet.org

Paul Krugman @paulkrugman

Hey, if we're going to save this monument to dysfunction and ugliness, be sure to also preserve the signs telling you where to find NJ Transit etc — all of them pointing in the wrong direction https://t.co/kSD4D2MvhA — PolitiTweet.org

Paul Krugman @paulkrugman

Helping states in need? Good. Sneering at the states that provide that help? Not. https://t.co/PoLNXZ8vNL — PolitiTweet.org

Paul Krugman @paulkrugman

Or, for that matter, Amos 2/ https://t.co/ReHoFRhm82 — PolitiTweet.org

Paul Krugman @paulkrugman

On a more trivial subject: watched The Expanse S6 Ep 1. Damn, I forgot how good that show is. Where's Chrisjen Avasarala when we need her? 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Wildly busy day. But a moment to mention that I got a lot of hate mail over questioning whether inflation always hurts the poor worst — which is amazing given that recently wage gains have been much bigger at the bottom than the top https://t.co/vBNeeWFXB9 — PolitiTweet.org

Paul Krugman @paulkrugman

Heh. I remember being bothered even then by the fact that Seldon's equations apparently had closed-form solutions. If you have no idea what I'm talking about, consider yourself fortunate. — PolitiTweet.org

Paul Krugman @paulkrugman

Again, when you ask people how *they* are doing, they're upbeat. Yet they think "the economy" is bad. 2/ https://t.co/GNI7TQ5eT9 — PolitiTweet.org

Paul Krugman @paulkrugman

But why doesn't Biden get credit for the boom? It's a mystery ... 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

While the hypocrisy is galling, what really gets me is the consistent opposition to things like the Child Tax Credit that really would help their constituents — PolitiTweet.org

Paul Krugman @paulkrugman

Um https://t.co/akapPEGPh2 — PolitiTweet.org

Paul Krugman @paulkrugman

"Inflation especially hurts the poor" has truthiness — it sounds like it should be true. But I don't see either evidence or a mechanism 4/ — PolitiTweet.org