Is the FED an impartial stakeholder in our economic system? And who is it working for and why?

The federal reserve is by no means an impartial stakeholder in anything. Money for nothing clearly shows that the FED is vulnerable to public opinion and corporate influence just as every other hierarchical system is. Greenspan and Bernanke wanted nothing but to appease Wall Street. They chose to ignore simple economic facts and hid away their problems until the spilled over the edges and caused the 2008 crash. Then they funneled money back into a broken system to save it, breaking the main rule of neoliberalist and capitalist thinking "the markets will take care of themselves".

The FED works for Wall street. If it worked for the people, it would take care of the people. The FED should have raised interest rates and committed the people to saving money instead of creating another market bubble. The U.S. household and credit debts are at all time highs and the interest rates are still hovering near 0% convincing people to go out and borrow and spend to "stimulate the economy". A three year old can tell you that you shouldn't spend money you don't have. Hopefully, the next time the market crashes, which it surely will, the administrations will have a reality check. The federal reserves currently serve the whims of Wall street, they don't regulate the trillions of dollars in derivatives and they keep spending high, by keeping interest rates low, to keep money in the pockets of the 1%. The bailout was the cherry on top, the system proved to the world that it was broken and the FED came to the rescue by inserting trillions of dollars back into the pockets of the rich. Inflation continues to plague the average american, but at least the CEO's of AIG can walk away with hundreds of millions in bonuses.