There is no free lunch. Everything must, and will, one way or another, be paid.,
The Fed was created on a socialist notion and is one of the greatest wealth destroying machines ever invented. It's effects are readily seen in the destruction of physical manufacturing, thousands of once productive great cities, soon to be once great states.
You asked about its employment task. For get about it. Families are the official shock absorber of the state. Errors and costs, and now generational slave debts, are dumped upon them. Sheeple are for shearing.
We have now for two years had the largest borrowing, debts, and so called stimulas since WWII. Only this time we have not built( not that we could anymore) any manufacturing........in the US. It is in China. We have not borrowed from savings( we don't have any) We borrowed from the Chinese. So, so much for multiplier effect, if if there is one. What spending has taken place has been on already employed union government workers( there's a productivity lifting crew!).
Since the government either bailed out its Mini-Me paper money partners, the banks, AIG, GM, etc, or just paid its union 'workers', with the rest of the borrowed money flowing to China, and some to unproductive, price rising boondoggles like solar and wind power, I don't see how we do recover.
Next up, more taxes to service the debt and more spending to keep the lid on domestic/popular anger.
Nope. Not me. I think that the Fed is overrated.
Nope. Not me. I think that the Fed is overrated.