[throwaway173738]

I think the problem here isn’t the preference that we create with the way inflation is chosen as a target but that we try to exert influence at all. It should be possible for many people to lead good lives without investing cash in the stock market. And the stock market should be a good place to raise capital. But when our retirement savings are bundled up in the stock market it creates a perverse incentive to manipulate the market to prevent us from losing our retirement savings.