In her opening remarks at Jackson Hole:
…my primary message today is that I expect monetary policy will continue to play a vital part in promoting a stable and healthy economy. New policy tools, which helped the Federal Reserve respond to the financial crisis and Great Recession, are likely to remain useful in dealing with future downturns. Additional tools may be needed and will be the subject of research and debate. But even if average interest rates remain lower than in the past, I believe that monetary policy will, under most conditions, be able to respond effectively.
Unfortunately, that is not happening. As illustrated in the charts, monetary policy has been overly tight, with a brief respite.
Why they don´t perceive this and make a real effort to overhaul the monetary policy framework is beyond comprehension!