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Tuesday, June 25, 2024

Paul Krugman says he’s confused by the current US economy – and predicts the Fed will keep fighting inflation until it’s clearly won

By Theron Mohamed, Business Insider 

Paul Krugman, a Nobel Prize-winning economist, doesn’t know what to make of the current US economy.

“We don’t have a very clear picture of what’s happening to inflation right now,” he said in a recent New York Times column, describing the situation as “murky” and “genuinely confusing.”

The pace of price growth surged as high as 9.1% last summer, spurring the Federal Reserve to hike interest rates from nearly zero to upwards of 4.5% in a bid to cool inflation…

Continue reading here >

New York Times’ article Wonking Out: Peering Through the Fog of Inflation (no paywall) >

Image by Pexels from Pixabay 

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