Paul Krugman says a soft landing now looks 'amazingly within reach' after inflation report
The latest consumer inflation data indicates the US economy may actually achieve a soft landing, Paul Krugman wrote in aFor the Nobel laureate economist, that means the economy could see a return to normal levels of inflation without a spike in unemployment.
The CPI report"strongly suggested" a soft landing is ahead and now looks more likely than not, he added. "Others prefer different measures, but they're all telling the same story: a rapid decline in underlying inflation even though the unemployment rate is the same as it was a year ago," he wrote. Unemployment stood at 3.6% as of June.
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