What Paul Krugman thinks about inflation
Trade economist, Nobel laureate in 2008 for his work on economic geography, professor emeritus at Princeton and the CUNY Graduate Center, and a New York Times columnist from 1999 to 2024. Now writes on Substack.
Paul Krugman did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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5 dated positions, 2026, in their own words. Our reading of what Paul Krugman has said — not written or endorsed by them.
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Their wordsAnd while presidents usually have much less influence on the economy than is generally recognized, the current outbreak of high inflation is all on Donald Trump.
↗Trump is Destroying Americans’ Healthcarepaulkrugman.substack.com
- 5 days earlier
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Their wordsMy basic point — that Trump inherited a relatively benign inflation picture and threw that inheritance away with his tariffs and war — is even clearer from the PPI than the CPI.
↗The Bad News on Inflation Just Keeps Comingpaulkrugman.substack.com
- 1 day earlier
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Their wordsBut there is no question who is responsible for the resurgence in inflation: this is all on Trump, first the tariffs and then then the Iran war.
↗On Inflation, Trump Snatched Defeat from the Jaws of Victorypaulkrugman.substack.com
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Their wordsAnd there’s a big risk that the succession of inflation shocks will do what the post-Covid shock didn’t: get entrenched in expectations, so that we will need a recession to get inflation back down.
↗On Inflation, Trump Snatched Defeat from the Jaws of Victorypaulkrugman.substack.com
- 3 weeks earlier
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Our readingRising diesel prices are even more likely than rising gasoline prices to drive up interest rates.
Their wordsFurthermore, rising diesel prices are even more likely than rising gasoline prices to drive up interest rates. Why? The Federal Reserve, which sets short-term interest rates, normally focuses on “core” inflation, which excludes volatile food and energy prices.