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Paul Krugman@pkrugman.bsky.social |
Underlying inflation is also low. I like the New York Fed’s measure, in large part because it’s an algorithm that doesn’t involve judgement calls and hence possible motivated reasoning. It’s within spitting distance of the 2 percent target 2/
2 replies 8 reposts 72 likes
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Paul Krugman
@pkrugman.bsky.social
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Finally, for those concerned inflation might get entrenched in expectations, the Atlanta Fed’s measure of business expectations is also within spitting distance of 2 percent. Hard to see anything here that justifies concerns about “sticky” inflation or a difficult “last mile” 3/
1 replies 8 reposts 63 likes
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Richard H. Serlin
@richardhserlin.bsky.social
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At this point the question is not the last mile, but the last inch. Are they going to create a recession to get that last inch, especially since we're probably better off settling at least an inch higher.
0 replies 0 reposts 0 likes