Many voices on the left are calling for the 2 percent inflation target to be increased, but voters should object
The Federal Reserve announced on June 14 that it has “paused” its relentless pace of interest-rate hikes for the first time in 15 months.  In March,2022, the Fed commenced  hikes, then continued as follows:

Fed Meeting
Rate Increase 
Target Rate

March 15–16, 2022
+25 basis points
0.25–0.5 percent

May 3–4, 2022
+50 basis points
0.75–1.0 percent

June 14–15, 2022
+75 basis points
1.50–1.75 percent

July 26–27, 2022
+75 basis points
2.25–2.5 percent

Sept. 20–21, 2022
+75 basis points
3.0–3.25 percent

Nov. 1–2, 2022
+75 basis points
3.75–4.0 percent

Dec. 13–14, 2022
+50 basis points
4.25–4.5 percent

Jan. 31–Feb. 1, 2023
+25 basis points
4.5–4.75 percent

March 21–22, 2023
+25 basis points
4.75–5.0 percent

May 2–3, 2023
+25 basis points
5.0–5.25 percent

But the June …