Opinion | Krugman Wonks Out: What We Talk About When We Talk About Money

By Paul Krugman

Opinion columnist

Lately I’ve been getting a lot of mail from readers infuriated by my relative nonchalance about two issues: budget deficits and money growth. When I point out that the federal government is able to borrow at incredibly low interest rates, some retort that this is only because the Federal Reserve is buying a lot of debt. When I say that we shouldn’t be worried about runaway inflation, some point to the rapid growth in the money supply and say that we’re on the verge of becoming Venezuela.

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