Fed in the firing line: Why life is getting harder for central banks

Why is the Federal Reserve being accused of fueling financial volatility and risking the country's economic well-being?

For reasons largely outside its control, the Federal Reserve is now being widely blamed for fueling financial market instability and risking derailment of the US economy. This is quite a contrast from just a few month ago, when it was still being feted by many for its role as an active and effective repressor of financial market volatility. It is probably only a matter of time until the European Central Bank finds itself in a similar, perhaps tougher position. The reality is both central banks have entered a new, more uncertain phase that is likely to last for some time,