What Paul Krugman thinks about interest rates
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.
Everything they publish, on ppll ↗
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.
4 dated positions, 2026, in their own words. Our reading of what Paul Krugman has said — not written or endorsed by them.
The line under a date shows how recently it was said: empty within a month, full after three years.
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Their wordsInterest rates, by contrast, are almost always telling us something important about the economy — although exactly what they’re telling us is sometimes a matter of dispute.
↗Booms, Bombs and Bonds: Interest Rates, Part Ipaulkrugman.substack.com
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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.
- 11 days earlier
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Their wordsThe simplest story consistent with the facts is that we’re seeing a surge in demand for funds as a result of the AI boom.
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Their wordsI don’t think it’s responsible for high long-term rates, any more than Bill Clinton was responsible for high rates in the late 1990s. This looks like the natural market response to the rush to invest in AI.
The line under a date fills as the words age, a quarter at a time: past a month, six months, a year, and three years. Empty means said within the last month; full, more than three years ago. It says when, not whether it still holds — a change of mind is marked on the claim itself.
Dashed means we only know the words existed by that date; they may be older.