In light of this view, I think that the price stability target of 2 percent is well above the level that is consistent with the growth potential of Japan's economy.
Through our Fed Listens events, we have been hearing from representatives of consumer, labor, business, community, and other groups. The February Monetary Policy Report shares some of what we have learned. The insights we have gained from these events have informed our framework discussions, as reported in the minutes of our meetings.