** Yield is NOT only a number that you pretend it is.
** It will be a real problem if Fed can NOT, anymore, be independent of powers and riches for even a short term.
It is not difficult for Fed to target at some certain treasury bonds. However, as long as Fed does it, people will be officially confirmed that moneys in circulation have reached trigger point of high inflation and that moneys have nowhere, such as stock market, to go to lower their transaction speed.
What if the yields of bonds with short maturity are not attractive enough or Fed fails to balance structures of demand for different maturity? In either way, moneys in circulation will still go across line to trigger high inflation. Plus, people are not eyeing on the number of 10y bond yield but the average borrowing costs or required returns. If the current and forward 1y bond's compounded returns match 10y bond yields, the low 10y bond yield can not reflect correctly current benchmark for borrowing costs or required return. If the compounded returns of 1y bonds are too low people won't buy them.
Facing long term interest of country, Fed failed, again, to demonstrate its toughness. When the whole country is going far right, US may never come back again.