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Fed Not Thinking About Changing Inflation Goal

FED
  • Q: Where are we on the "pain" you warned about for workers?
    • A: The worst pain would come from a failure to raise rates high enough and allow inflation to become entrenched in the economy so that the costs of getting it out of the economy would be very high in terms of unemployment. The worst pain would be if we failed to act. I wish there were a completely painless way to restore price stability. There isn't. This is the best we can do.
  • Q: Is there ever a point where you re-evaluate the 2% target and raise it?
    • A: Changing our inflation goal is just not something we're thinking about and not something we're going to think about. We're not considering that under any circumstances.
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