Call me a cynic but I believe the Fed has one and only one mission: to keep the interest rates on Treasuries low! If there is a secondary boost to the economy, all the better, but the real purpose it to keep the debt bubble inflated so spending spree can role on.
Think about it, at $16 trillion in debt, a 1% increase in net interest to the Treasury results in a $160 billion increase in spending on debt service alone. Now imagine the interest rates returning to normal historic levels, or even worse to late 1970s double digit rates!
The worse things get the more the government lies to us. They remove energy and food from the CPI, are you kidding me?