I do think there’s a path to bring down inflation while maintaining what I think all of us would regard is a strong labor market, and the evidence that I’m seeing suggests we are on that path…Are there risks? Of course. I don’t want to downplay the risks here, but I do think that’s possible.
2-4% inflation target is more common for EM countries. We probably have a new long term GDP growth trend in DM countries below 2% if we factor in changes in demographics and productivity. So I guess the 2-4% target would be more a short term thing?
2-4% inflation target is more common for EM countries. We probably have a new long term GDP growth trend in DM countries below 2% if we factor in changes in demographics and productivity. So I guess the 2-4% target would be more a short term thing?