I'm not sure I fully understood your question, so you'll have to stop me if I didn't.
Look, we don't have a target for the interest rate. We have a target for inflation. The ideal interest rate is the one that gets us to 2% inflation. What that's going to be, though.... Because the interest rate is the instrument, what interest rate is going to get us to low, stable inflation is going to depend on what happens in the economy.
We do very much worry about the risks on both sides. Inflation has been too high. We've taken forceful action. We've raised our interest rates. We are committed to getting inflation all the way back to 2%. We want to make sure that we do enough. We don't want to drop rates prematurely, realize that we're not going to get back to 2% inflation, and then have to raise them again in the future. On the other hand, we don't want to leave them high for so long that the economy cools a lot more than it needs to. In that case, inflation would probably fall below our target.
It is a difficult judgment. We spend a lot of our time discussing whether we are doing too much or too little, or how much more we have to do. That is really the centre of our deliberations.