Why the latest inflation news is 'seriously encouraging'

The U.S. has had its lowest unemployment rates in over half a century. On the other hand, the U.S. has also suffered its worst inflation since the early 1980s.
In the 2022 midterms, countless wingnut candidates claimed that President Joe Biden was to blame for the inflation the U.S. is suffering — and ignored the fact that inflation is a global problem, not a problem that is unique to the U.S. Many other developed countries, in fact, have worse inflation than what the U.S. has been experiencing. According to the Trading Economics website, the U.S. had 7.1 percent inflation in November compared to 7.3 percent in Australia, 9.9 percent in the Netherlands, 10 percent in Germany, 10.7 percent in the U.K. and 11 percent in Italy.
Economist Paul Krugman: Why the latest inflation news is 'seriously encouraging'