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This article was published as part of the American Prospect's "Great Inflation Myths" series, which developed from PERI's "Global Inflation Today" conference.

PERI Co-Director Robert Pollin and co-author Hanae Bouazza argue that there is no evidence showing that "economies at any level of development consistently experience stronger economic growth when inflation is maintained at less than 3 percent." Instead they find that economies perform better at modestly higher inflation rates.

Read Robert Pollin and Hanae Bouazza's conference paper:

 Considerations on Inflation, Economic Growth, and the 2 Percent Inflation Target