"too low too long"
Is there something inherently wrong with being low for a lengthy period of time? "Too low" is obviously bad (if true - my understanding differs, but I'm no expert), but is there any concern over "too long" if "too low" isn't true? (honest question - is a too stable rate itself a problem?)
On to the "too low" part - My understanding is that Fed targets 2% inflation, and we've just not been there. Do you have reasons other than gut instinct to dislike the low rate? (Again, honest question, my understanding could very well be wrong).