If you can guide a currency and there is some power imbalance in who is doing the guiding, then that can turn out to be a nasty problem. For instance, there is

If you can guide a currency and there is some power imbalance in who is doing the guiding, then that can turn out to be a nasty problem. For instance, there is some asymmetric effects if the entity doing the guiding dilutes savings by pumping the money supply and simultaneously buys mortgage products while setting a central bank lending rate of near 0%. Beauty is in the eye of the guider.