One problem is the Fed has too many customers whose interests are at cross purposes. A big jolt to interest rates would be the fastest way to stop inflation, which helps the most people, though possibly throw some out of work as well -for once that is not so much an issue because the job market it tight. But it would crater stocks and the Fed is made up of bankers and bankers don't like it when their friends in the capital class get hammered. A shock level rise in interest rates would also be a windfall for todays short sellers of stock, and wall street hates short sellars, and the Fed is wall street people.....