The longtime gambit of the Federal Reserve to bring breath life into the economy via low interest rates is a bipartisan fiasco. When Ben Bernanke was the Fed chairman, having been appointed by George W. Bush, he went all-out with the idea that the Fed had a dual charge of not only maintaining sound money but also battling unemployment. To that latter end, Bernanke was convinced he needed to keep interest rates ridiculously low until the economy perked up to his satisfaction.
