Home Budget, Economy Nobel Laureate Economist Paul Krugman: “It’s V-I (victory over inflation) day. Core...

Nobel Laureate Economist Paul Krugman: “It’s V-I (victory over inflation) day. Core PCE up 1.9% annual rate over past 6 months.”

White House: "Today marks a significant milestone with inflation over the last six months at the pre-pandemic level of 2 percent."

170
24

Nobel Prize-winning economist Paul Krugman, who’s been right all along that post-pandemic inflation was almost certainly “transitory” – due to factors like snarled supply chains that were almost certain to resolve within months or a couple years – declares, “It’s V-I (victory over inflation) day. Core PCE up 1.9% annual rate over past 6 months.” See below for more on this great news, and of course, thanks to Democrats and to President Biden for navigating the U.S. through REALLY rocky seas towards what increasingly appears to be the much-wished-for “soft landing.” Check it out:

“The PCE price index decreased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent (table 5).”

 

 

 

********************************************************


Sign up for the Blue Virginia weekly newsletter

Previous articleFriday News: “Inflation Is Closing In on Fed’s Target”; “Trump recorded pressuring Wayne County canvassers not to certify 2020 vote”; Mike Johnson Leads “Congress’ ‘Christian fascist’ caucus”; “Virginia looks to land major pro sports, but at what cost?”
Next articleSaturday News: “After a terrible year of climate news, here are 5 reasons to feel positive”; “It’s Time for the U.S. to Give Some Tough Love to Israel”; Inflation Down, Stocks Up, “Soft Landing” Nailed…Right Wingers Don’t Like It!; “Trump’s [Nazi-like] anti-immigrant rhetoric is taking over [GOP]”