“In actuality, the Fed has little control or influence over the things that really matter in the real economy. Innovation is often a meaningless buzzword (think ‘financial innovation’), but it is also the key driver of wealth creation in the real economy. The Federal Reserve could be shut down and all its asset bubbles could pop, and innovations in energy, agriculture, transportation, education, media, medicine, etc. would continue to impact the availability and abundance of what really matters in the real world: energy, knowledge, water, food, and opportunity, to name a few off the top of a long list.”
http://charleshughsmith.blogspot.com/2013/08/the-fed-doesnt-control-as-much-as-you.html
