ECB Should 'Meaningfully' Revamp Inflation Goal Target Higher: Posen

The transcript discusses the ECP report's implications on passing grades and the ECB's approach to inflation targets. It highlights concerns about public perception of passing grades and the need for a symmetric inflation target. The conversation also explores the necessity of meaningful changes to inflation targets, suggesting that a higher target might better reflect economic priorities.

What are the implications of averaging 3.5 for four or five years according to the speaker?

What does the speaker mean by saying that if you are going to catch up, you need to be honest about it?