This would be a disaster - especially for the low-wage worker. What they aren't saying is that even if wages rise, the prices will rise a lot faster and buying power - the real metric of concern - will fall.

The proper rate of inflation in an economy should be ZERO. Inflation devalues debt and creditors have to charge higher interest rates in order to still profit from capital lending. Think of what will happen if inflation is at the 2.4% mark they list but interest rates are near 0%: capital lenders go out of business. This is nothing more than an attempt at a hostile takeover of the capital market by the Federal Reserve and should not only be shot down, but should renew calls to audit the Fed.