The Fed cost the DOW a 1,000 points in last couple of months with too aggressive rate and future rate hikes. They are tapping down the economy to early. They are in charge of putting the skids on growth. The unelected few.
FED is still way below historical rates based on REAL INFLATION, not the phony CPI number used to calculate raises for social security checks.
The FED is trying to build some room for looser monetary policy when the economy slows down. If they kept ZIRP for ever, the future recessions will become depressions.