Krugman: With Inflation Down, Fed Should Cut Rates Like Late 2019
• Krugman "Definitely time for the Fed to cut rates" as inflation has collapsed and the "war on inflation is suddenly over" • Krugman compares current numbers to late 2019 when rates were much lower • Unemployment rate about the same as late 2019 • Underlying inflation slightly higher than Fed 2% target • Hard to justify current high rates given inflation outlook and state of economy