Paul Krugman on the Interest Rate Cut and What’s Next

保罗·克鲁格曼谈降息及下一步行动

The Opinions

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2024-09-18

8 分钟
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The Nobel-winning economist has some advice for Jerome Powell.
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  • Hi, I'm Josh Haner and I'm a staff photographer at the New York Times covering climate change.

  • For years, we've sort of imagined this picture of a polar bear floating on a piece of ice.

  • Those have been the images associated with climate change.

  • My challenge is to find stories that show you how climate change is affecting our world right now.

  • If you want to support the kind of journalism that we're working on here on the climate and Environment desk at the New York Times, please subscribe on our website or our app.

  • This is the Opinions, a show that brings you a mix of voices from New York Times opinion.

  • You've heard the news.

  • Here's what to make of it.

  • I'm Paul Krugman.

  • I'm an opinion writer for the New York Times, also a professor at the City University of New York.

  • I won third place in the Optimist oratorical contest in junior high school and I also got a Nobel Prize.

  • Today, the Federal Reserve is more or less guaranteed to cut interest rates.

  • We don't know how big it'll be, quarter point, half point, but it's coming.

  • It's going to be a big deal.

  • The reason they're going to do it is first and foremost that we've won the war on inflation and we did it without a recession or a large rise in unemployment.

  • The important thing now is, is to not fumble the landing.

  • And so the question is going to be, will the Fed be pulling the plane's nose up fast enough so that we do get a smooth landing on the Runway?

  • What I think the Fed should do is big rate cuts.

  • The discussion has been between 25 and 50 basis points, where a basis point is a hundredth of a percentage point.

  • That's just the jargon people use.