Seeing Krugman call out Trump specifically while starting the graph half way through the Biden Administration... gave me sort of a Climate Change vibe. Sure they are in 'lockstep' as presented recently, but is this a new normal or outlier? What is he 'hiding' to imply these are lockstep values?
I chose a start date half way through the last Obama Administration (2014) and scaled to 100 relative to values on that date. I didn't match Krugman's relative scales but plotted it again ( https://fred.stlouisfed.org/graph/?g=1JqXv ) ... you can see the trends in the graph across two Trump presidencies a bit of Obama and all of Biden and it paints a different overall picture. A lot of wild variance is hidden.