The Federal Reserve is a total failure

I know I’m going against the grain by saying the Fed is a failure. But let’s be factual here.<br><br>The Federal Reserve was created in 1913. They said they would prevent another Great Depression. What did we get? The Great Recession, which was much worse than any recession from 1870 to 1929.<br><br>They said they would smooth out the business cycle. Since 1913, we’ve had multiple recessions, including two depressions.<br><br>Low and behold, what do we get in 2023? **Double digit inflation**, something we haven’t seen since the 80s.<br><br>What’s the point of the Fed? If anything, they’ve only made things worse.<br><br>This isn’t really a political post, but I don’t want the Fed to exist. I want a gold standard to return.<br><br>What do you guys think?<br><br>**Edit: It seems many of you think I’m blaming the Fed for all the inflation we currently have. I am not. The current inflation is a multi-causal issue, and the Fed cannot control everything, like exogenous factors. The point of my post was that the Fed did not achieve its goals. This is simply a fact, not debatable. They have repeatedly failed to achieve their goals. Perhaps I should’ve written a longer post. Thank you all for your comments. This is all I have to say.**