Paul Krugman challenges the comeback of "vulgar monetarism," debunking claims that only money supply drives inflation. He critiques Treasury Secretary Scott Bessent's narrow view blaming Fed actions under Biden, ignoring supply chain woes and sticky prices. Explore Krugman’s insights on tariffs, inflation causes, and Fed independence. #PaulKrugman #monetarism #inflation #economicpolicy #FederalReserve #tariffs #stickyprices Read more: https://paulkrugman.substack.com/p/money-isnt-everything