and our friends in the mass media will do their usual job of making the masses overlook the fact that something dramatic has changed in monetary policy.

TomK

econ

Inflation: is 3% finally the new 2% to keep the credit party running??

It seems like low-hanging fruit politically. Rhetorically, increasing the target by one percentage point sounds like a trivial reform.

It's not like the 2% target was precisely determined by some rigorous scientific process. That was pretty arbitrary and was basically small enough for normal people not to care, but large enough to funnel tons of money to cronies.