I think a consistent criticism has been of their idleness in response to the inflationary threat and not taking it seriously enough, soon enough. It didn’t take

I think a consistent criticism has been of their idleness in response to the inflationary threat and not taking it seriously enough, soon enough. It didn’t take fortune tellers to see where things were headed in spring of ‘21 but we kept injecting cash and keeping the cost of cash near zero. Lots of excuses for why that is, but behind the eight ball is where they landed. Their considerations are as you describe but their concept of benefit includes the political, their finance industry customers, and many other conflicting interests. So harm:benefit, yes, but some people’s perceived benefits can certainly cause harm to the greater economy.