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The Fed's alleged inflation target is 3%, though they are chronically unable to even come close since 2008. And, arguably, the most serious threat to the world economy is deflation. If the USA experienced even 4% wage push inflation for two years that would not likely exceed the difference between the alleged 3% Fed goal and the actuality of the annual inflation rates since 2008. 4% inflation for five years would start to whittle down the debt/GDP ratio about which conservatives obsess. It could also pull the world back from the threat of a debt-deflation death spiral. Having the USA again be an engine of world economic growth would be a good thing!

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Sep 4th, 2015 at 08:38:32 PM EST
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