The Fed lost a lot of credibility in the 2000s. I still remember how Bernanke constantly claimed that things were ok right until they blew up in 2008. Since the

The Fed lost a lot of credibility in the 2000s. I still remember how Bernanke constantly claimed that things were ok right until they blew up in 2008. Since then they seemed to be mainly a tool of the political and financial classes that easily gets intimidated by pressure from people like Trump . They probably lost credibility even earlier when they allowed the hero worship around Greenspan who turned out to be just a hack.