If actual inflation remains contained (low) that may not be bad in eye's of policy makers given that theoretically, low inflation is assumed to have salutary effects on business growth and thus investment spending among other things. However, it is not actual inflation that is important it is inflation expectation across the population and industry that does pose a significant risk. If everyone thought inflation would get worse (regardless of actual track) in periods ahead, it might affect saving behaviour in unexpected ways. This could be problematical for the Fed. So the management of inflation expectation is key in that respect and that might not be an easy task.