Federal Law applies

 We can change Fed policy. By we, I mean all the groups that talk about the Fed. 

To make policy more effective we need to keep mentioning the number 135, over and over and over again. The PCE price level must be near 135 in January 2030 if average inflation targeting is to be a success.

Scott Sumner and one of those flat earth magics. If everyone had the same expectations then some equilibrium might happen.  This is what makes an economist a pundit, the desire to save their theory.

There is a law in force.  The Right to Coin will be exercised at least once in the period to 2030.   No one will believe shit until we know the 'who and how' the right to coin gets activated. Nor will a philosophical expectations revolution happen.

The Fed cannot make the PCE rise.