"Lars E.O. Svennson can call the expected inflation imp from the vasty deep, as can you or any man, but does he come when Svennson doth call to it?:
I admire Svennson a lot as an economist and a central banker, but I don't see how anyone can link 'foolproof' and 'induces expectations'.
In this case, I think we gain better insight into monetary policy from Damon Runyon who correctly noted that 'nothing between human beings is one to three. In fact,' Sam the Gonoph says, 'I long ago come to the conclusion that all life is six to five against. '"