Why is successful monetary policy so difficult to achieve?

Question

Why is successful monetary policy so difficult to achieve?

Answer 1

Large numbers of economists devote entire careers to dealing with this question, and there's no simple way to answer it fully.  In a nutshell, monetary policy can only address a few of the myriad problems that might afflict an economy. It focuses on the cost and availability of credit.  But deploying monetary policy can lead in increased inflation.  So, not only is monetary policy a tool with limited effectiveness (depending on the problem at hand), it can also have detrimental effects.