They want a low inflation rate to boost housing prices etc.
It won’t be immediate, IMO, but things could be interesting at this time next year, as prices rise.
But when they rise further, will enough interconnected effects have been set in motion that the $4 gallon spikes to over $5. Your house may be worth more, but you’ll be spending more in energy costs to heat/cool it.
“Puttin’ out fire with Gasoline” - David Bowie.
And more in property taxes.