Peter Schiff Challenges Paul Krugman To Debate Over Who Won The War Over Inflation, Says The Victor Obvious To Those 'Without A Noble Prize'

Well-known investor Peter Schiff has challenged Nobel laureate Paul Krugman to a debate on the winner of the inflation war, expressing a contrasting viewpoint to Krugman’s recent declaration.

What Happened: Schiff, in his post on X, formerly Twitter, was at odds with Krugman’s assertion that the war on inflation has been won, but disagreed on the victor. “It’s obvious to those of us without a Nobel Prize that inflation is the winner,” he wrote. Schiff went on to challenge Krugman to a Spaces debate.

See Also: China’s Economy Echoing 2008 Crisis: Expert Predicts Full-Blown Financial Turmoil

This comes in response to Krugman’s claim that the battle against inflation has been largely victorious, without the need for a recession. Contrary to the popular belief among economists, Krugman argues that unemployment doesn’t need to skyrocket and the economy doesn’t have to significantly decelerate to reduce inflation.

Why It Matters: The inflation debate comes in the wake of the August Consumer Price Index (CPI) report that showed consumer inflation increased by slightly more than expected. The CPI revealed that U.S. inflation surged 3.7% year-on-year in August, while core inflation accelerated at a 0.3% pace.

The August CPI surge stunned economists, leading to discussions about potential Federal Reserve decisions. Schiff’s challenge to Krugman thus throws the spotlight back on the ongoing debate around inflation and its impact on the economy.

Photo Courtesy: Wikimedia Commons

Read Next: Runway debris is causing $4 billion in damages to the aviation industry every year. One startup funded by the US Department of Defense and Homeland Security aims to solve this nuisance in a spectacular fashion and you can invest in it today.