Paul Krugman, a renowned economist and Nobel Prize laureate, has urged the Federal Reserve to promptly implement rate cuts as the New York Fed’s inflation measure hits 2.06%. What Happened: Krugman took to social media platform X to share his thoughts. He emphasized the need for immediate rate cuts, citing the New York Fed’s inflation measure of 2.06% as a key factor. “The eagle has soft landed. The New York Fed’s measure of underlying inflation is now just 2.06 percent. The Fed should cut rates now now now,” Krugman wrote. June’s Personal Consumption Expenditure (PCE) price index, which repre…
