Paul Krugman: Still no stag and not much flation
By Paul Krugman / The New York Times
The economic news continues to be pretty good, especially compared with the dire forecasts many were making in late 2022. But you might not have gotten that message if you watch financial TV: Its hard to spend 24/7 talking about the economy while saying not much happened this week. So commentators and partisan media seize on every hint of bad news.
And the public is reacting. Google searches for stagflation have spiked, much like they did in the spring of 2022.
So heres what you need to know: Theres no stag out there and not much flation.
True, gross domestic product growth came in a bit low in the first quarter. But just about every serious analyst regarded this as statistical noise. More important, as we saw in Friday mornings employment report, the U.S. economy is continuing its remarkable stretch of good job numbers and low unemployment.
https://www.heraldnet.com/opinion/paul-krugman-still-no-stag-and-not-much-flation/