But here's the problem. And the Fed is between a rock and a hard place of their own making. The yellow line is The Fed's targeted personal consumption expenditures is their preferred inflation target. I don't know why you'd want 2% inflation a year, because over 10 years that just means we're devaluing our dollar by 20%. But that's their target. (1:03:42–1:03:45)
CLAIM
Asserts that the Federal Reserve uses personal consumption expenditures as its preferred inflation target.
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