Because the first priority of the Fed is the health of the banking system itself, and not the national economy and the availability of credit to non-banking institutions.
The Government is the other leg of this, but under small-government market fundamentalism there's no hope of a sensible policy. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
