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The Fed's 2% Inflation Target
Janet Yellen was singularly focused to an even greater extent than Ben Bernanke on the idea of the 2% inflation target. The minute Greenspan got out the door, she and Bernanke ran that 2%flation target down the throats of the others on the committee. A young Jay Powell was none too happy about QE3 or spoke articulately as a markets player and was cast down and disregarded. To this day, it is that same 2% target that was Yellen's baby that the Fed hides behind to justify nonstop money printing.