Eaton Vance's Taylor: Fed Should Celebrate Low Inflation

The video discusses the path of interest rates and the nature of inflation as a tax on wealth. It highlights factors like Shell technology, GMOs, and globalization that suppress inflation. Despite these factors, inflation remains around 2%, which is seen as positive by the Federal Reserve. The Fed should celebrate this stable inflation rate as it benefits citizens.

What factors are contributing to the inflation rate being below 2%?

Why should the Federal Reserve celebrate the current inflation rates?