Whenever monetary policy really matters, i.e.. when the outlook is a cause for great concern, there is so much uncertainty in the air about current and future behaviour, including previous policy decisions still working themselves out in the pipeline. Any policy measure to be taken will overlap and interact with many other past and future decisions.
So there we are, pretty naked (or perhaps: naked, but not pretty). xxx Obviously, so are those who analyse and comment on central bank policy. For that reason, the commentary does not always advance our understanding of what would be a way forward. This applies equally to criticism as well as the occasional approval.