Paul Krugman

Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” “The Age of Diminished Expectations” + more.

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Paul Krugman @paulkrugman 15 hours ago

So, while I was away the case for inflation panic died. Or actually the cases, plural. For these past few months there have been two inflation stories, both crucially requiring a key failure on the part of the Fed. Now we know both stories are wrong 1/

Paul Krugman @paulkrugman 15 hours ago

Not saying that Friedman was a bad economist: he was, in fact, a great innovator. But hard now to see him as being remotely in the same league as, to take a nonrandom example, Keynes 7/

Paul Krugman @paulkrugman 15 hours ago

Story #1 said that the Fed's intellectual framework — which makes a key distinction between volatile commodity prices and inertial "core" inflation — was all wrong, and that things like soaring lumber prices were harbingers, not transitory shocks 2/

Paul Krugman @paulkrugman 15 hours ago

Timberrrrrr! (Spot lumber prices) 3/

Paul Krugman @paulkrugman 15 hours ago

Excellent CEA post explaining why supply-chain problems look temporary 4/

Paul Krugman @paulkrugman 15 hours ago

But last week's FOMC statement plus the "dot plot", while not extremely hawkish, suggested an institution aware that inflation might become a risk and willing to act if necessary 6/

Paul Krugman @paulkrugman 11 hours ago

And it has arrived! Now I can do light statistical work in style

Paul Krugman @paulkrugman 11 hours ago

For example, the distinction between volatile and non-volatile prices:

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Paul Krugman @paulkrugman 1 years ago

America's response to the coronavirus is the worst in the world, which is shocking and has a lot to do with a leader who is completely unfit, temperamentally and intellectually, for the job 1/

Paul Krugman @paulkrugman 1 years ago

Well, Bernie Sanders is now the clear favorite for the Democratic nomination. Lots of things to say about that, but the most important is that he is NOT a left-leaning version of Trump. Even if you disagree with his ideas, he's not a wannabe authoritarian ruler 1/

Paul Krugman @paulkrugman 10 month ago

I don't know if anyone else has said this, but payroll tax cuts are the hydroxychloroquine of economic policy. They won't do anything to solve the employment crisis, but will have dangerous side effects. Yet Trump remains obsessed with them as a cure 1/

Paul Krugman @paulkrugman 1 years ago

Has anyone pointed out that Biden is capable of admitting error? That by itself puts him on a higher moral plane than you know who

Paul Krugman @paulkrugman 11 month ago

Another thought on Arizona's numbers: AZ, with 7 million people, is reporting as many new cases per day as the European Union, with 446 million.

Paul Krugman @paulkrugman 4 month ago

So Rs want Biden to drastically scale back economic relief in the name of bipartisanship. Their offer is insultingly inadequate, and their claims that using reconciliation would "poison the well" are rich given how they rammed through the 2017 tax cut. But there's more 1/

Paul Krugman @paulkrugman 11 month ago

By now we were supposed to have a fading pandemic and a roaring recovery. Instead we have a fading recovery and a roaring pandemic. And its all about bad leadership.

Paul Krugman @paulkrugman 10 month ago

Did I miss Trump saying something about the killing of Judge Esther Salas's son? Or did he exhaust his reserves of compassion feeling sorry for Ghislaine Maxwell?

Paul Krugman @paulkrugman 11 month ago

America's disastrous pandemic response, in one picture

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