I'm looking into the Federal Funds rate for some other post...
Google finds me a page from the EconModel site...
I like it immediately, the site I mean...
Judging a book by a page at random. Anyway...
The Fed Funds Rate page says, among other things:
A decrease in the federal funds interest rate stimulates economic growth, but an excessively high level of economic activity can cause inflation pressures to build to a point that ultimately undermines the sustainability of an economic expansion.
"An excessively high level of economic activity can cause inflation."
It can, sure. But something else must have caused the inflation we've been having since about 1973. Because we have not had anything like an excessively high level of economic activity since then.
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