European Central Bank Executive Board member Piero Cipollone stated in an interview that excessive concern about potential inflation shocks is harmful to the economy. In my view, maintaining low demand to guard against future inflation shocks is counterproductive today, as further weakening our economic potential will increase rather than decrease inflationary pressures. The European Central Bank's policy does not require excessive safeguarding against potential future inflation shocks—efforts should be made to drive the economy to realize its potential without coercion, as this may enhance inflation expectations. Excessive caution is, in fact, a risk.