Monetary policy no longer works. It’s trying to control too many variables with not enough tools.
Bio-finance, like in the Biology, small continuous changes guarantee evolution, shots only disruption
The point is, I think, that you can’t have effective monetary policy at the macro-level if monetary policy has to do micro-level interventions. You may not even be able to do those interventions at all, and I have my doubts about doing the whole of macro policy with monetary policy. And we already assume that macro-level monetary policy exists in order to avoid doing micro-level interventions. Central banks getting interested in regulatory intervention do so, in part, to get enough requisite variety so that monetary policy can work.