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The Fed prefers to change its interest rate target only rarely because
Bureaucratic Inefficiency
Bureaucratic inefficiency refers to the lack of effectiveness and productivity in government agencies or organizations, characterized by excessive red tape, slow processes, and unresponsiveness.
Social Structure
The ordered and patterned relationships between and among different statuses and groups in a society, which influence people's choices, behaviors, and opportunities.
Rivalries
Competitive or adversarial relationships, often characterized by ongoing opposition or conflict between parties.
Social Groups
These are collections of individuals who interact with each other and share similar characteristics and a sense of unity.
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