Just the opposite: there is a belief that manipulation of money supply smooths out cyclicity.
Corrections are no different than than drinking. If you get drunk, you can put off the hangover by continuing to drink. But the more you drink, the worse the hangover will be. Recessions serve to clear out the excesses of the boom. Greenspan delayed the onset of the recession by pumping the economy full of money and credit. Now we as individuals and the government are up to our eyeballs in debt. The economy will contract as individuals and government have to curtail spending in order to service their debt.