Are the outcomes of Fed's actions precise and predictable?

The Fed _______.

1.

has few challenges in making its monetary policy decisions because it is unusual for other factors to influence the outcome

2.

is handicapped in part because the economy does not always respond in exactly the same way to a given policy change

3.

is the best institution to use to move the economy back to potential GDP because the ripple effects of its actions are precise

4.

has a relative easy time implementing monetary policy because the time lags in the adjustment process are predictable