Why Mainstream Economics Got Inflation Wrong | by James K. Galbraith - Project Syndicate

Leading economists misdiagnosis of inflation in 2021-22 2 was latest episode in a long-running series of failures, from not foreseeing 2008 fi 2008 ial crisis to endorsing self-destructive austerity in the 201 the 2010s her mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream. AUSTIN ="summaryF November 7, 2023 t New York Times /span> Paul Krugman ghtText__NxlGi">2021 Krugman two years recent years maryFeed_highLightText__NxlGi">Janet L. Yellen Treasury the US Federal Reserve Feed_highLightText__NxlGi">US 2021-22 Krugman highLightText__NxlGi">4% three i">the next ye September 2022 an class="summaryFee the Brookings Institution ed Harvard University’s _ Jason Furman kings at least two years xt__NxlGi">2% 6.5% pan class="summaryFeed_highLightText__NxlGi">Fed