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 https://englundmacro.blogspot.com/2021/03/amid-wide-range-of-options-inflation.html