Also a problem is that the primary lever we seemingly have to impact the economy is the feds manipulation of interest rates, but what happened to taxes? The have been so politicized that all is left is the wide scatter shotgun effect of rate changes.
The FED can set interest rates.
The federal government can set taxes.
And there is no overlap of those powers between the two.
The federal government can also spend which impacts it as well.
I appreciate they are separate, but they are intertwined and one has become politically untenable.