For some, like SA contributor Gary Gordon, the Fed is "Fooling Investors For A Third Time;" others, like conservative economist Greg Mankiw, sing the praise of the Fed:
The nation’s central bank employs about 20,000 Americans. They monitor the economy, develop analyses to help set monetary policy and regulate the banking system. None are paid the extraordinary salaries found at the nation’s private banks. But they do their jobs with solemnity and tenacity and without a whiff of scandal. And, most important, they do their jobs well... The success of the Fed