The original intent of the FED in 1913 was to mitigate downturns to prevent bank failures. FDR changed that to monetary policy, interest rates, to support the federal government and that has let the FED to actually believe that can control the economy! Capital flows today are world wide not to one country alone and so we have added in the IMF and the World Bank and about the only thing they can do is screw up everything really badly and so we are where we are and a correction is coming soon!.