Investopedia describes the Fed's mandate as "to promote sustainable growth, high levels of employment, stability of prices to help preserve the purchasing power of the dollar and moderate long-term interest rates."
After 100 years, it would seem the Fed has the perspective that all of its mandated goals are best served by single goal: promote confidence. Perhaps at any cost. Truth, if it is in conflict with confidence, takes a back seat. Sometimes, it seems, truth is thrown out of the car altogether. Given the Fed's exclusive focus on confidence, one facet of which has been its explicit boosting of the stock market (an assertion which has moved beyond conspiracy theory and into the mainstream understanding), how much of what they say is truthworthy?
Does the hope they sell (as confidence) outweigh the truth they suppress?
Is hope devoid of truth less useful?
Is truth that begets hopelessness less useful?
Of the two, assuming mutual exclusivity, which is more important to you?
Is your answer as an individual citizen different than your answer as an individual investor? Which response is more trustworthy?