Inflation? What inflation? That’s the latest insight from Nobel laureate Paul Krugman, who reckons “the war on inflation is more or less over, and we won.” Never mind that the latest numbers show that annual inflation in November galloped ahead by 3.1 percent, some 50 percent higher than the Fed’s target, and core prices were up 4 percent. Mr. Krugman’s priority is helping President Biden get re-elected, and “Fed rate cuts will help him with that.”