Many people view the Federal Reserve’s role in monetary policy as an unqualified good. If there isn’t enough money in the economy, or if there is too much debt or deflation, then the Fed should print money until both situations are fixed.
But it isn’t that simple.
Monetary policy is a zero-sum game. It’s much like Isaac Newton’s 3rd law of motion: for every action there is an equal and opposite reaction.
Not only do many people fail to understand that, they are also under false impressions of what the reactions are and who they effect.