The "new" macroeconomic model

Recent macroeconomic developments have led to the construction of a new macroeconomic model where: Inflation is exogenous (it does not depend on either the cyclical situation or money supply growth); Interest rates are controlled by central banks and are exogenous (thanks to yield curve control, central banks control long-term interest rates); Money is mainly investment money, which is a component of wealth; The money supply is endogenous, set at the level required for the interest rate to be equal to its target value. This new model has very particular characteristics: Monetary policy boils down to keeping the interest rate at the desired level; The real interest rate is exogenous, so investment can no longer be stimulated; An expansionary fiscal policy increases production, bond issues, the money supply and asset prices (equities, real estate, etc.) and has no impact on interest rates.