Question

should the federal reserve try to get the inflation rate to zero?

Answer 1

The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system As an institution that manages the currency, money supply, and interest rates of a state or formal monetary union, and oversees their commercial banking system,one of its fundemental duties is the maintain equilibrium in the economy AD=AS,if AD>AS it leads to inflation,The Governments often strive for an inflation rate of around 2 to 3 percent per year. Such low inflation is beneficial for the economy. Low inflation encourages consumers to buy goods and services. Delaying will mean that they would have to pay more for the same product.

should the federal reserve try to get the inflation rate to zero?

zero inflation economy means a deflation. Decrease in pricing means less production & wages will fall, which in turn causes prices to fall further causing further decreases in wages, . so a low rate of inflation will provide safety barrier against this.IF inflation=0,AD<AS.

federal reserve steps to control inflation

Popular method of controlling inflation is through a contractionary monetary policy. The goal of a contractionary policy is to reduce the money supply within an economy by decreasing bond prices and increasing interest rates,To control inflation, the Fed must use contractionary monetary policy to slow economic growth  If it's higher then demand will drive up prices for goods. The Fed can slow this growth by tightening the money supply.