First published by Money Metals Exchange here: https://www.moneymetals.com/news/2023/09/04/against-a-3-percent-inflation-target-002819
<p><img src='https://www.moneymetals.com/uploads/content/mmx-inflation-social.png'/></p>There is no good reason to accept a higher inflation target. All the arguments for it rely on dark-age macroeconomics, which should have stayed buried with the stagflation of the 1970’s.