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ANY planned approach to the economy is wrong on the face of it. You simply cannot get there from here by adjusting anything other than by holding the money supply stable for stable price levels. Concentrating only on the money supply for the sake of the money supply, not for some grand vision of correcting for unfair valuations or steering the economic ship in a more favorable direction is the only adjusting that works because it requires only a short time line to do its work. Everything else requires more time than any FED chairman is permitted by political exigency. He cannot make ANY positive adjustments. All will be negative so long as inflation is perceived as any sort of tool for economic improvement, no matter what the Chinese are doing. Even if the FED makes the"right" adjustment, it must re adjust shortly because the results are not apparent soon enough. Adjusters never do see the results of individual adjustments because they are quite unable to leave them alone long enough to see what would eventuate from the action.The problem is NOT misadjustment or wrong goals, it is the very fact and attitude of adjustment and goals(other than stable prices) that are harmful.

ANY planned approach to the economy is wrong on the face of it.

So, in the small, do you likewise posit that no business should have an approach/plan to making a profit?

You simply cannot get there from here by adjusting anything other than by holding the money supply stable for stable price levels. Concentrating only on the money supply for the sake of the money supply, not for some grand vision of correcting for unfair valuations or steering the economic ship in a more favorable direction is the only adjusting that works because it requires only a short time line to do its work.

You'd have to get rid of all lawyers worldwide, to accomplish the above successfully. Dittos on all financial planners and advisors.

Everything else requires more time than any FED chairman is permitted by political exigency. He cannot make ANY positive adjustments. All will be negative so long as inflation is perceived as any sort of tool for economic improvement, no matter what the Chinese are doing. Even if the FED makes the"right" adjustment, it must re adjust shortly because the results are not apparent soon enough. Adjusters never do see the results of individual adjustments because they are quite unable to leave them alone long enough to see what would eventuate from the action.The problem is NOT misadjustment or wrong goals, it is the very fact and attitude of adjustment and goals(other than stable prices) that are harmful.

Your initial theory in the para is correct, but only in a textbook mode. Further, if the Fed's only task is to "hold money supply level" -- you posit this based on the notion of an isolationist theory -- that nothing untoward could ever occur via economic means. Your theory rules out a lot of matters such as corruption, terrorist networks, etc.

There is a great deal more involved in a decision to raise an interest rate 1/4% than purely "tinkering", as you posit.