> above the allowed 2% per year. The US Fed's inflation target is symmetric about 2%, though it has almost consistently undershot it in recent years. Some arg

> above the allowed 2% per year. The US Fed's inflation target is symmetric about 2%, though it has almost consistently undershot it in recent years. Some argue that higher inflation is less scary than deflation because "interest rates can always go higher", but I would agree the Fed does seem to be more worried about upside inflation risks. Possibly because monetary policy has been "accommodative" (in their view) for so long, and "normalisation" has been a clear long-run goal. There are signs those tendencies have changed, though -- they've been talking about being "data driven" since last year, and recent messaging has smoothed the road to possible rate cuts too.