At what point is a set percentage of involuntary unemployment worse than the effect of an interest rate required to maintain that percentage? Because the investment class benefits on either side of that question from ROI on bond issues, it has not been properly addressed. Inflation has been assumed to be the only issue to be addressed by monetary policy, which is, at best, a clumsy and untargeted tool for even that narrow task.

Remove that incentive to profit from bond issues and the "natural" rate of interest becomes zero. This is also the rate that best guarantees full employment, which should be the target for a central bank supported by a free-floating fiat currency issued by its government. It comes down to who the central bank and government favors, which should be the majority of the population.