By increasing inflation, some argue that we could lower the real rate of interest and increase monetary accommodation for as long as it takes to bring the unemployment rate down by a substantial amount. At that point, the goal would be to return inflation to a lower, more stable level.
But for this strategy to work, the public must have complete confidence that the Fed will be able and willing to bring down inflation in the future. If that confidence wanes and inflation expectations begin to drift up, this strategy will fail.