ML-Implode News - No, the Fed Doesn't Have a Plan. Yes, It Really is Monetizing Government Debt

And Fed critics have argued since 2008 that "normal" monetary policy would never return, that QE would never be unwound, and that artificially low (or even negative) interest rates were here to stay. In other words, that the Fed and its 300 Ivy League economists don't know what to do other than kick the can down the road another few months while hoping for a miraculous economic recovery.
Fast forward to today, and the recovery hasn't materialized. And Fed officials, current and former, are singing a different tune about ever restoring the balance sheet to pre-2008 levels.
... even progressive WaPoÂ readers sense thatÂ the Fed is clueless, and that there are no brilliant people in Washington working onÂ a "plan" to save us. Extraordinary monetary policy is the new normal, and all those pundits who assumed the Fed knew what it was doing were- and are- wrong.

Relevant:

No, the Fed Doesn't Have a Plan. Yes, It Really is Monetizing Government Debt