Google searches for inflation have plunged - and that could mean rising prices aren't a big problem anymore, Nobel economist Paul Krugman says
Americans are running internet searches for"inflation" far less often than a year ago. That could mean rising prices no longer pose a serious threat to the US, Paul Krugman has said.
Inflation is fueled by inflation expectations, as workers demand higher wages in anticipation of prices rising, which drives employers to raise prices to afford to pay higher salaries, which results in inflation. The upshot can be a wage-price spiral that makes inflation a self-fulfilling prophecy, and leads to it becoming entrenched in the economy.
US inflation has slowed from above 9% at its peak last summer to 4% in May. A key factor has been the Federal Reserve hiking interest rates from almost zero to upwards of 5% since last spring.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Casino Shares Plunge After Warning of Potential Debt DefaultBy Mauro Orru Shares of Casino Guichard-Perrachon slumped in early Monday trading after the French grocer said it could default on part of its debt. At 0750...
Read more »
Google Maps turns previous Android Auto “issue” into a great featureGoogle Maps’ latest update brings back a previous “issue” that made it possible to use the Maps app on your smartphone and Android Auto at the same time.
Read more »
Meta’s Twitter competitor, Threads, briefly showed up on Google PlayThreads is probably getting released soon.
Read more »
Local Entrepreneurs Receive $150K Google Grants for Tech StartupsStarting a business from scratch takes a lot of work — not to mention capital. A startup initiative from Google is helping Black and Latino entrepreneurs reach their goals.
Read more »
Google's own Bard AI says iOS is better than AndroidGoogle Bard said it prefers iOS for Android - here’s why the generative AI might think iPhone is better than Google's mobile platform.
Read more »
Folding Phone Battle: Google Pixel Fold vs. Samsung Galaxy Z FoldGoogle’s new Pixel Fold and Samsung’s Galaxy Fold are video-streaming machines for long-haul commuters.
Read more »