|
In response to
"This is fascinating re: consumer confidence vs economic indicators in the US -- (link)"
by
ty97
|
Paul Krugman has written a lot about this. One thing he's come around to (a bit) is that while inflation has come down a lot, because the reduction
Posted by
pmb (aka pmb)
Dec 1 '23, 15:42
|
in the rate of inflation doesn't result in lower prices for things, people are still suffering from sticker shock and that the result is there is a recency effect that has to roll off to where people are used to the higher prices before people can let go of the feeling that inflation is out of control.
|
Responses:
|