In an interview with CNBC last week, JPMorgan Chase CEO Jamie Dimon said he is skeptical that the Federal Reserve will be able to reduce inflation to its 2 percent target, citing deficit spending, green energy regulations and re-militarization of countries globally as top reasons. The latest consumer prices measure, released this morning (Aug. 14), clocked in at 2.9 percent, down from June’s 3 percent. In its most recent semiannual monetary policy report, released on July 5, the Fed reaffirmed its commitment to reducing inflation to 2 percent. To achieve this goal, Fed Chair Jerome Powell announced in the most recent FOMC meeting on July 31 that the federal funds rate will stay at a 23-year high of 5.25-5.50 percent. However, economists are increasingly uncertain if the 2 percent goal is even realistic.

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While the 2 percent inflation target is widely accepted by central banks around the world,........

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