Why 2% in the First Place?

 The Fed has never justified 2%. It is a number dreamt up, without explanation but unfortunately now used world-wide.

2% inflation benefits banks, the wealthy, and those with first access to money.

https://mishtalk.com/economics/economic-nonsense-is-extremely-well-anchored-in-fantasyland-and-not-just-at-the-fed


Amid a wide range of options, inflation targeting remains the simplest and least bad


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