The Fed has strayed greatly from its original purpose. This is something that causes a lot of confusion.
In this video I discuss a couple points, interest rates along with the buying of debt as two examples of what has changed, altering the effectiveness of the central bank. Originally the Fed was designed to be more of an insurance company for member banks.
▶️ 3Speak
I guess their lessening purpose led to this. They have become almost useless, so they are trying to make themselves still relevant.