Are There Additional Instruments for Fed to Use?

I do think there needs to be considerable soul searching at a the fed as to how they missed this as badly as they did. They were declaring that inflation would be transitory through most of 20 21, even as it was becoming clearer to clearer and clearer that inflation wasno ona path to being purely transitory. So i take some review of the modelling and forecasting techniques that the fed uses is in order,. And i think it would give confidence that these kinds of mistakes hum are less likely to be a repeated in the future.