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Evans, Charles L. on 2017 May 22 at 21:10

The symmetry of our inflation target is important — the central bank should be equally concerned about undershooting the target as overshooting. 

The symmetry of our inflation target is important — the central bank should be equally concerned about undershooting the target as overshooting. If instead the public viewed our target as a ceiling, they likely would lower their expectations for average inflation over the longer run. These lower expectations would get built into lower nominal interest rates, and thus increase the risks of hitting the effective lower bound. Evans, Charles L.

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