Pillar 7 translates as "target a particular price level" rather than an inflation rate. No inflation, which hawks ought to love; rules based; but in a circumstance like this would encourage the Fed to do a lot more easing than they have. As Rortybomb puts it:
Notice that Pillar 7 isn’t “Buy $X amount worth of Y” (like QE does) but “set the level.” It’s not a floor or a step but a destination. The cartoonist understands that the administration must do whatever it takes across all available monetary tools to get us to the targeted destination.