"A better inflation target is a range": El-Erian

Do you think the 2% inflation target should be scrapped. >> I don't think it should be scrapped. I think it should be changed.I have been of the view that a better inflation target is a range, not a point estimate. A point estimate suggests precision that is elusive. Second, that range should be higher than 2%.It should be the two and a half to 3%. What is undeniable is that we are at a stable 3% inflation and that hasn't in any way unanchored inflationary expectations. ...