TIP - Paul Krugman Counters Nikki Haley's 'Economy In Shambles' Comment: '2023 Was A Miraculous Year' | Benzinga
Economic data released last week was benign, cementing expectations that inflation is on a sustained downtrend. Nobel laureate Paul Krugman on Friday took exception to comments made by Republican presidential primary candidate Nikki Haley.
What Happened: Haley offered a bleak take on the economy in a campaign speech in her home state of South Carolina on Wednesday. Criticizing her GOP rival Donald Trump for throwing a temper tantrum, Haley said, “He [Trump] didn't talk about the American people once he talked about revenge. He didn't talk about the fact that we've got an economy in shambles and an inflation that's run out of control.”
Sharing excerpts of Haley’s comments from OK Magazine on X, Krugman said the economy grew 3% and core inflation was back at 2%.
3% growth, core inflation back to 2%; Nikki Haley on Wednesday: "We've got an economy in shambles and an inflation that's run out of control"https://t.co/iLuub140ip — Paul Krugman (@paulkrugman) January 26, 2024
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Why It’s Important: Advance estimate released last week showed that the U.S. economy grew at an annualized quarter-over-quarter pace of 3.3% in the fourth quarter compared to a robust clip of 4.9% in the third quarter. GDP rose 2.5% in 2023, quicker than the 1.9% pace in 2022.