“If anything the Fed has done in the past four years had actually had a positive consequence in the real economy, Bernanke would have identifed that policy and expanded it in a measured response.  Instead he went all-in, emptying the Fed’s toolbox in one big dump: unlimited money-printing, unlimited propping of the mortgage market, unlimited support of low Treasury rates and three more years of zero-interest rate policy (ZIRP).”

http://charleshughsmith.blogspot.com/2012/09/the-fed-has-failed-failed-failed.html

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