E-piphany

Let the bow-tie set argue about the niceties and the nuances. Here is what I can tell you about inflation targeting so that we can all understand the debate: suppose they changed the rules of baseball in an analogous way.

A new pitcher comes in to the game. He throws a pitch over the batter’s head. His next pitch skips behind the batter. His third pitch sails 2 feet high and outside. His fourth pitch almost hits the mascot.

“Yer out!” barks the umpire. Because the four pitches averaged out to strikes. My questions:

1. I don’t know that the new rule gives me any greater confidence in the pitcher.
2. It isn’t clear to me how that rule would help the batter.
3. Maybe this helps a bad pitcher. But I wonder why a good pitcher would need that rule.

That is all.