Key Takeaways Kevin Hassett, the frontrunner to be the next chair of the Federal Reserve, wants to bring inflation down to 1%.A 1% inflation rate would be the lowest since the Obama administration, other than the pandemic.Most forecasters do not expect inflation to get down below 2% for years. If you could turn back the clock on inflation, a good date to pick might be July 2016. That was the last time the Consumer Price Index rose by less than 1% over 12 months when there wasn't a pandemic disrupting t ...