Beginning of Essay
Goals of monetary policy are to "promote maximum employment, inflation (stabilizing prices), and economic growth." If economists believe it's possible to achieve all the goals at once, the goals are inconsistent. There are limitations to monetary policy. ....

Middle of Essay
.... investors to the country. Evidence has suggested that economies perform better, in terms of growth, employment and living standards, in low inflation environments than they do when inflation is persistently high. This evidence is a comparison across countries over long periods. The association between economic performance, measured by growth of output or growth of productivity, and inflation. This indicates a negative relation; that is, the higher the inflation, the lower the rate of real growth. Evidence suggesting that low inflation promotes growth has motivated recent decisions by a number of central banks and governments, ....