[jaguar]

Keynesian economists believe inflation can occur independently of monetary conditions.

If though, for a minute I follow the monetarists line, it has been well proven that targetting that relationship has been a failure and as I said, Milton Friedman himself agreed only last year.

Do too keep in mind there is a good reason central banks set specific inflation goals rather than zero, offical price indicies have a long history of overstating inflation and everyone prefers a touch of inflation to deflation.