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As are most other (or all?) OECD countries at the moment. It would be better to compare with other countries inflation instead of the 2% target at this point.
by astonex 4y ago
As are most other (or all?) OECD countries at the moment. It would be better to compare with other countries inflation instead of the 2% target at this point.
- _heimdall 4y agoThe Fed's charter is based on comparing against our own targets though. If the whole building is on fire, it isn't useful to say the person in apartment 3b is doing well because their place is less on fire than down the hall
- netheril96 4y agoFed is to a certain degree the central bank of the whole world. Other country faring worse does not absolve the Fed, because the Fed is the culprit for all of them.
- areyousure 4y agoIn case anyone is curious, the second-largest economy in the OECD (which also has a 2% inflation target) reports inflation of 2.1--2.8%: https://www.reuters.com/markets/asia/japans-may-consumer-inflation-tops-boj-target-2nd-straight-month-2022-06-23/ https://www.reuters.com/markets/asia/japans-may-consumer-inf... https://tradingeconomics.com/japan/inflation-cpi https://tradingeconomics.com/japan/inflation-cpi