Some then go on to argue that central banks should just accept this, not fight it; perhaps they should shift the goal posts, or even adopt another monetary framework.
Chart 7  Outlook for Economic Activity and Prices as of January 2021 Forecasts of the Majority of Policy Board Members y/y % chg.  Real GDP  CPI (all items less fresh food)  Fiscal 2020  -5.7 to -5.4 [-5.6]  -0.7 to -0.5 [-0.5]  Forecasts made in October 2020  -5.6 to -5.3 [-5.5]  -0.7 to -0.5 [-0.6]  Fiscal 2021  +3.3 to +4.0 [+3.9]  +0.3 to +0.5 [+0.5]  Forecasts made in October 2020  +3.0 to +3.8 [+3.6]  +0.2 to +0.6 [+0.4]  Fiscal 2022  +1.5 to +2.0 [+1.8]  +0.7 to +0.8 [+0.7]  Forecasts made in October 2020  +1.5 to +1.8 [+1.6]  +0.4 to +0.7 [+0.7]  Notes: 1.