Indeed. And it's clear through this lens that if the Fed's goal was actually to have a stable currency, they would grow the money supply through this method. U

Indeed. And it's clear through this lens that if the Fed's goal was actually to have a stable currency, they would grow the money supply through this method. Under a helicopter money scenario, the intended inflation/counter-deflation would happen nearly instantly, they could get the exact amount required, and we would move on with our lives. Right now we have lagging indicators for lagging indicators that are lagged through the Cantillion effect. Of course it's an absolute impossibility to get it correct! No wonder we get booms and busts! Deflation is bad, it causes rent-seeking through hoarding money. But inflation is bad, it causes rent-seeking through hoarding assets. The goal needs to be against rent-seeking, against zero sum behavior. The only way to accomplish that is steady prices.