I would agree with your comments on the Fed in the main, but they have done a terrible job in their responsibilities. It is not the job of the Fed to eliminate healthy recessions. This seems to have been their objective by mispricing the cost of money, which leads to asset price bubbles. As well, as regulator of banks, they stood by as banks levered up to insane levels. Little has been done to correct their gross errors.
As bank regulators, I agree with your comment on the Fed Reserve. I am not convinced that the banks should be regulated, however. But, given that they are, I agree with you.
My bigger concern is that the Fiscal Policy that sowed the seeds of the housing crisis are not being addressed, or even being acknowledged as problems by the current administration. Had the Fiscal Policy (and specifically I name the CRA, but there were others) not been in place, the housing crisis would either have been much less, or not occurred at all.
It is hard to catch the horse once it leaves the barn. 'Tis better to ensure that the barn door is not opened.