Gold 
”Fed watchers are virtually unanimous in their view that the Fed has contributed significantly to each of the two recent bubbles, and helped lay the groundwork for the one many believe is currently propping up the global stock and bond markets.
‘The question isn’t did they miss the bubble but did they create the bubble,’ said Lance Roberts, chief strategist at STA Wealth Management. And the answer, according to Roberts, is a resounding yes.
Roberts said financial bubble cycles have become self-perpetuating in the last two decades as the Fed has ‘manipulated’ monetary policy in response to a crisis only to create conditions conducive to another bubble, which sets the cycle in motion again.
Witness the low interest rates put in place to address a recession in the early 1990s, rates that helped fuel the decade-long economic expansion that ended when the tech bubble burst around 2000.
Enter the Fed again with more low interest rates to offset a recession combined with lax lending standards and government policies hell bent on promoting home ownership and the result is the 2008 financial crisis.
Here comes the Fed again, this time with the lowest interest rates since the Fed started dictating such things and an extraordinary and unprecedented stimulus program known as quantitative easing in which the Fed purchased trillions of dollars of U.S. Treasuries to pump liquidity into U.S. financial markets.
Booms and Busts
Many analysts believe the Fed’s so-called ‘easy money’ policies initiated in the wake of the 2008 financial crisis have helped push U.S. stock indexes to new records and bond prices to their highest levels in decades.”
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