Austrian School

Has the Federal Reserve Become Too Powerful?

Good point made in the article- the Fed is reacting to circumstances that were created in part by earlier Fed action.

The Fed benefits the banks at the expense of the rest of the economy. And no, the economy isn't the banks. They let banks, and now securities houses run their leverage up to the hairy edge to maximize profit, then when they fall down, they're hedged by the Fed.