The Fed Matters Much Less Than You Think  It can't control the
real economy Thursday, August 1, 2013, 1:18 AM  Those who follow
the mainstream media’s “all Federal Reserve, all the time”
coverage of financial news naturally conclude that Senator Chuck
Schumer neatly summarized reality last year when he declared
that the Federal Reserve “is the only game in town.”  This
obsessive focus on Federal Reserve policies and pronouncements
has several causes, including    1. laziness; i.e., publishing
press releases and official spin as “news”   2. willful
ignorance   3. craven desire to tout the party line, lest the
plumage of someone higher up become ruffled and the messengers
be sent to the career guillotine   4. adolescent faith in an
all-powerful financial Deity (the Federal Reserve) being far
less troubling than skepticism, and   5. all the other lemmings
are persuasively running in that direction, so it must be right
This lemming-like belief in the power of the Federal Reserve
generates its own psychological f