After I posted this it seems the tone is wrong. I don't mean to be critical, just meant to be an observation. I think your writing is very good. Please read it in that context.

The Fed does not have control over inflation, employment or growth. They only have control of monetary policy that may or may not have enough influence to impact inflation, employment or growth. Targeting nominal growth will most likely have an impact on real growth if their efforts make any difference.

It is not like the Fed can direct price controls or wage controls to force inflation to a target and they can't order hiring or layoffs to hit employment goals.

TEK