Paul Krugman says the Fed's pessimistic view of inflation feels a bit desperate, now that price pressures are cooling rapidly
The Federal Reserve's pessimistic view of inflation is starting to look"a bit desperate" with price pressures now appearing to be rapidly cooling, according to top economist Paul Krugman.which showed another big drop in inflation toward year-end
"Thursday's report on consumer prices was really good news. I mean, really, really good news," Krugman wrote in a"Even when you try to filter out the noise by excluding more volatile prices and looking at averages over several months, you get a picture of rapidly slowing inflation," he added. The central bank raised benchmark borrowing costs from near-zero to around 4.5% last year – and has signaled it'll carry on clamping down on consumer price pressures this year despite the recent favorable data.
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