The New York Times’ Nobel Laureate economist whose “first pass” take after Trump was elected president was that the markets would never recover has weighed in on inflation, and he doesn’t think it’ll be a big problem, if at all:

And maybe “inflation” isn’t even the proper term in this case. Perhaps “transitory price blips” is a better way to go:

Based on past experience with Krugman’s predictions, “don’t worry too much about the inflation numbers” can be easily translated to “maybe start to really worry about the inflation numbers.”

Imagine Krugman’s take if this was happening and Trump was still president.

Hey, it’s not as if Krugman has ever been wrong before. *Cue eye roll*