New York Times columnist Paul Krugman insisted on Thursday that recent economic news have been “fairy encouraging” lately despite the news that the GDP is in a recession.
Although Krugman admitted that the economy is"definitely slowing," he claims that other reports have been"fairly encouraging lately."
"As I suggested, early indications are that the Fed is winning its war on inflation, and doing so faster and more easily than most observers expected," Krugman wrote.that he was"wrong" about inflation after June’s report found the inflation rate increased by 9.1%, a new high. He instead acknowledged that it’s"much, much too soon to declare victory in the fight against inflation" while noting there have been"several false dawns" over the last 18 months.
WAPO, NY TIMES, CNN, ASSOCIATED PRESS AND MORE FRAME SECOND QUARTER GDP NUMBERS AS FUELING ‘RECESSION FEARS’Sen. Joe Manchin, D-W.Va., has previously been reluctant to agree to any green agenda put forth by the Democrats, citing concerns with the inflation rate as a reason. However, on Wednesday, he officially announced anon a reconciliation bill that would include $433 billion in climate initiatives.
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