The Federal Reserve: The Biggest Scam In History (Photo credit: CityGypsy11)

As a result of the seemingly weak recovery of US economy coupled with the high rate of unemployment, a few top Federal Reserve makers of policy settled for a third purchase of bonds. As indicated by John Williams, San Francisco Fed president, little progress seems to have been made on their mandates and this calls for new strategies. On the other hand, Richmond Federal president Jeffrey Lacker highlighted on the current rifts at the United States Central bank and expressed his sentiments against bond purchases. The Fed has maintained low rates of standard short-term interest since December 2008, speculated to last till the latter months of the year 2014 in order to boost the economy.