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Reply to @Charles: Fed seems to be easy target of trashing. While Fed has done all it could and even got creative and innovative in some sense, Congress was a total failure. Political bickering and attempts to gain from failure (and dragging feet to that end) has not helped at all.
Fed is not perfect. You have to ask what is the agenda of the fear mongers.
Comments
In 2009, our homes and 401's were worth half what they were just a couple yeas prior.
Nobody could get a loan.
Credit lines were being zero'd.
Nobody could sell a home or move.
We were in economic free-fall.
The Fed took action to help provide stability.
I certainly was not looking for record GDP as a result of their actions.
I suspect that growth must come from a broader constituency.
The miracle is that somehow things did stabilize and a turn-around has begun, certainly in some sectors.
Granted, we do seem to have a habit of propping-up our heroes in times of need, then trashing them when our attention moves on.
Fed is not perfect. You have to ask what is the agenda of the fear mongers.