zlacker

If data was reliable, instant, and comprehensive, this might work. Of course, under those circumstances socialism or communism would probably work out even better.

It is precisely because data comes out murkily, with a lag - and the effects of changes have a lag as well- that managing the Federal Reserve can't by reduced to a simple process. It is an art done by humans- one where 'general trust in the institution' is the single most important variable of the last 40 years.