[imtringued]

I like the result. It's long overdue. Without Covid things could have gotten worse over the short term.

However, I don't like the process. You can't just let the Fed/government follow a strategy because that strategy does not fulfill its stated goals which results in doubling down on the strategy. Increasing the money supply is only excusable if you do so to hit your 2% inflation mandate. The Fed needs more precise tools so that it can actually do its job without collateral damage.

Relying on the government to send economic stimulus only works when the government actually thinks that the economy is in big trouble. It's a good fail safe but it doesn't help when your economy is limping at a low growth and inflation rate for a decade. It's easy to shoot down a infrastructure bill if the only reason it exists is to add 0.5% inflation from 1.5% so that you hit 2%.