A strong and persistent expansion of monetary liquidity could fuel or even trigger an asset price boom. During the bust phase of the asset price cycle, the associated credit crunch might lead to an economic downturn and a negative deviation from the objective of consumer price stability, and possibly even to deflation, which would exacerbate the financial crisis.
That being said, it has often been indicated that GDP has its limitations. There are criticisms that GDP does not properly reflect new economic activities such as the digital and sharing economies. And it is true that GDP does not fully capture degradation of the environment, the distribution of income and wealth, and changes in the quality of life.