The issue of what kind of institutional framework should be built in order to achieve an efficient allocation of resources in circumstances where such uncertainty is great and it is necessary to deal with complex challenges falls into the arena of incomplete contract theory.
In particular, if the FOMC were to decide today to follow price level targeting, then businesses would anticipate more stimulative future monetary policy and, consequently, higher future demand. That expectation of higher demand would provide an additional incentive for them to hire and invest today.