2% was pulled out of thin air by New Zealand in the 80s. A 3-4% target gives central banks more room to cut in recessions without hitting the zero lower bound.
Keep 2%. Moving the goalposts would torch central bank credibility and make every future inflation promise look negotiable.
The 2% target is a dusty relic from the 90s that forces us to crush jobs just to hit an arbitrary number. Bump it to 3% and let the economy actually grow.
