13 History has shown that sustained  11  See, for example, the discussions in Lars E.O. Svensson (1999), “Inflation Targeting as a Monetary Policy Rule,” Journal of Monetary Economics, vol. 43 (June), pp. 607–54; and in Jon Faust and Dale W. Henderson (2004), “Is Inflation Targeting Best-Practice Monetary Policy?” Federal Reserve Bank of St. Louis Review, vol. 86 (July/August), pp 117–44.
In regard to duration, moving to shorten the duration of our 2/3  BIS central bankers' speeches  holdings could increase the Fed's ability to affect long-term interest rates if the need arose.