An Admission of Error by the Fed

Good article in the back of the WSJ about the error in fed policy. It only took them 3 years to figure it out. Honestly, what a complete bunch of morons. Where they all living in a cave the last couple of years. How can the markets have any faith in the fed at all? There is going to be a massive capital markets collapse sometime and no one is ever going to figure it out. How about 1 million FNM's around the world. Its clear the fed is braindead and has lost its usefullness.