Is there some sort of mathematical reason behind this goal? Does 3% have some sort of long-term effects such that it becomes uncontrollable or something?
It seems like, inflation or not, places are just as busy (restaurants, Target/Wal-Mart, Costco, etc…).
In: Economics
There is an excellent planet money (an NPR podcast) episode about this which I highly recommend. The gist of it is no, 2% isn’t magical. We just made it up. There are economists that are now arguing for 3%. You can find the podcast [here](https://www.npr.org/2023/01/13/1149071772/two-percent-target-inflation-expectations).
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