On the 0% inflation idea, there is a compelling argument, actually, or at least a compelling benefit from having 0% inflation, and that is that the money we use would retain its value. I worry less actually than Craig about periods of deflation followed by periods of inflation. My concern is if we actually have a target of 0% inflation, there are potential costs that come possibly from the 0% lower bound, possibly from the inability of labour markets to fully adjust. There is a reasonable debate among economists about whether there would be net benefits going from 2% down to 1% down to 0%, but there is certainly a gross benefit of being at 0%. The question is whether there are also costs that would offset that.
Let me stop there.