system
A chat on subreddit /r/wallstreetbets
human
In his memoir Paul Vlocker said the 2 percent target is totally made up and there's no basis for it

gpt
Tbf there is some practicality to it. 2% inflation would double prices roughly every 36 years. 3% would double prices ~24 years, and 4% would be ~18 years. 
  
 If the effect carried over to wages, etc, this could be a convenient way of alleviating generational debt in a slow, controlled manner.