Slashing interest rates won't reignite inflation - and delaying could spark a recession, Nobel economist Paul Krugman says

• Inflation didn't fall because of the Fed, so cutting rates won't reignite it, Paul Krugman says.
• Price growth has slowed as supply chains have recovered, not because rates rose, Krugman said.
• The Nobel Prize-winning economist warned that delaying rate cuts risks an unnecessary recession.

Inflation hasn't slowed because the Federal Reserve has hiked interest rates, so slashing them won't reignite price growth, and delaying the cuts only raises the risk of a recession, Paul Krugman says.