I am going to give what I think is the intuition behind John Cochrane's paper (pdf), that is the subject of his recent post. (Or maybe what I'm doing is reverse-engineering his model's results.) The key result of his paper is the "Neo-Fisherian" finding that an increase in the rate of interest set by the central bank results in an increase in the inflation rate. And this equilibrium is stable. And with sticky prices, if the central bank sets a higher interest rate this causes a boom.
My old brain is tired, I can't do math, so I may have misunderstood him. (There is a lot of his paper I do not understand, and it's a long paper and I haven't read it all). But my little "model" gets the same results as his and is also simpler and more general. And much easier to understand.
It's based on exactly the same "model" I presented in my old post "If new money is always paid as interest on old money".