The Fed board isn't trying to enslave anyone (We The People own The Fed!), they're just trying to maximize for two variables under the dual mandate. It's mathematically impossible for them to do this.
What should be done is the government be prohibited from owning or trading gold, and the dual mandate ended. Put them back under a single mandate of maintaining stable prices and keep them out of commodities markets and it should work.
There is currently no shortage of money. The perceived problems in the economy are primarily due to the self fulfilling prophecies of public perception of stagflation and a bad economy.