it turned the financial and economic world upside down. That’s because the effect was to systematically suppress the cost of debt and speculation and drastically inflate the value of financial assets. As a result, everyone got false price signals and changed their behavior accordingly:

Wall Street investors became leveraged speculators;
Corporate business builders become financial engineers;
Middle-class households became debt slaves living hand-to-mouth on borrowed money; and
Washington’s politicians became free lunch spendthrifts piling on public debt like there was no tomorrow.
The Fed is now a rogue institution that comprises a clear and present danger to the future of prosperity and liberty in America.