Must-Read: Paul Krugman: Being An Inflation Hawk Means Never Having To Say You’re Sorry
Paul Krugman talks to journalists during a news conference. (AP Photo/Francisco Seco)
Must-Read: As long as reporters–even good reporters–act as stenographers, and thus neither make readers aware of their sources’ track records nor ask sources to justify why one should place confidence in their assessments, our public intellectual sphere and our dialogue will continue to be broken.
: Being An Inflation Hawk Means Never Having To Say You’re Sorry: “Jeffrey Lacker…
…Here’s what he just said: “If we hope to keep inflation in check, we cannot be paralyzed by patches of lingering weakness.” Oh, wait: That’s what he said six years ago. It is, however, pretty much indistinguishable from what he is saying now. It seems to me that this is a bit of much-needed context.
(2009): Charlotte Chamber of Commerce: “The perception of inflation risk could be particularly pertinent to the current recovery…
…given the massive and unprecedented expansion in bank reserves that has occurred, and the widespread market commentary expressing uncertainty over whether the Federal Reserve is willing and able to promptly reverse that expansion…. If we hope to keep inflation in check, we cannot be paralyzed by patches of lingering weakness, which could persist well into the recovery. In assessing when we will need to begin taking monetary stimulus out, I will be looking for the time at which economic growth is strong enough and well-enough established, even if it is not yet especially vigorous…