MacroVoices #353 Luke Gromen: The Fed Is Headed For Difficult Decisions
Macro Voices
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The Fed Shouldn't Change Their Target
When we were sub 2%, it seemed like every time the market crashed, the Fed was there. If we got back down to a steady 4.5% to 5% inflation, but not 2%, do you think the Fed would change its ways and realize we're still at double what we originally intended? Or do you think they would just adjust their target level to 4% to match actual and declare success and not worry about it too much? "I don't think they're going to change their target just because I think they would see that as defeat," says Julian Zelizer.
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