There were folks on this very board, long gone glowies, that argued that "that's not the way the economy works." Pumping money does not increase inflation and does not cause cost increases.
Uhh, yes it is....time and time and time again, the Fed pumps money INTO the system, the dollar loses value, and shit goes up. That's an open loop control system. Make it closed loop, and limit the amount of money!!!! Interest rates WILL definitely go up and down as we get overshoots and undershoots in the economy. Higher interest rates are not always bad. 1) keeps riff raff out, 2) encourages savings (something no R or D really wants as people are beholden to them, the CC companies and banks).
With the system we have today...Why save when shit on May 7 may be 100 bucks and in 2 months it's 120 bucks?