Remember, this is not a 1% increase in target #inflation. This is a 50% increase.
This was always the path. Every fed speech touting a 2% target was gaslighting. Hello 3%. #inflation #news #macro #fed https://www.cnbc.com/video/2023/04/19/fed-might-start-talking-about-living-with-higher-inflation-target-ubs.html
Discussion
… and 3% is still in their BS measure of inflation. My favorite real measurement of inflation is actual money supply growth / dollar debasement, which has and always will be greater than official targets
I agree. This is just a change in normie narrative.