I found the piece well done and interesting, and I have only a few comments before moving on to some questions and observations about the Federal Open Market Committee (FOMC) sparked by reading this research. 1 My first comment is that I'm not surprised by the results. The MPC has a well-defined objective given by the government.
To be sure, members may differ about the precise time frame in which to meet that objective, but these distinctions should be small relative to the importance of the overall objective.