Last week’s blockbuster jobs report, with more than 265,000 jobs added when including upward employment revisions, was very welcome news to almost all Americans. The exception would be the economists of the left who throughout Donald Trump’s now-five-and-a-half years in the White House keep getting the economy dead wrong.
Just a few months ago a gaggle of economists on the left, led by Nobel Prize winner Paul Krugman, started warning of “stagflation,” a witch’s brew of high inflation and high unemployment at the same time. He wrote that “any statement that things aren’t as bad as they were in the 1970s should come with the caveat ‘so far.’ ”
The liberal Center for American Progress told us we were already in the danger zone, claiming that “the Trump administration’s agenda has generated stagflation: slower growth and faster inflation.”
These are the same…
