Paul KrugmanRelevant to yesterday's report on wages: in 2018-19 AHE grew 3.1%, core prices 1.9% 1/
Over the past 3 mos, wages growing 4.1%. Underlying inflation now under 3? Wait for more data, obv, but looking shockingly good 2/
Ken@pkrugman That’s encouraging news.
nhb@pkrugman under Biden, and Democratic Presidencies we consistently see jobs, growth and progress—even as they clean up after Repubs’ recessions, deficits and wealth disparities
ArtSrcI would expect, all else being equal, a smaller deficit to reduce employment, especially in the story term. Although an increase in employment would also shrink the deficit.
Attributing economic fortune and the business cycle to the colours of the leader seems medieval to me. Did only the leader matter? What about the Congress or Senate?
What actual policy and action delivers outcomes?
AmicusOpus@pkrugman Not only has inflation over recent months been nowhere near the "Chicken Little 8%" (more like 3%), we also are nowhere near recession levels. If one uses the definition "2 qtrs of negative GDP growth", then technically we did dip slightly into the recession zone. But I don't think any serious economist actually uses that as a firm rule. And our GDP growth now is quite robust. We only go into recession in 2023/2024 if the Fed pushes rates too high.
Ed B@pkrugman Feeling that income inequality will be a drag on inflation for the foreseeable future. Short term spikes happen, sure.
@pkrugman , why not get into the price - fixing done by OPEC and Russia, as well as the war in Ukraine, a global supplier of grain? NYT thinks is too political?? Such an obvious cause.
Roberto Guerra@pkrugman, I think you may very much like this article:
https://linkso.medium.com/my-country-is-the-greatest-2b527a0002bf
