As shown in this article, there is a single reason why the Federal Reserve’s monetary experiment has been a complete failure:

http://viableopposition.blogspot.ca/2016/03/the-long-wave-and-failure-of-central.html

Most people and, I suspect that in this group we can include most central bankers, would agree that the post-Great Recession recovery has been far from normal.  Despite central banks doing this to their balance sheets to rescue the global economy from a near depression:

 The real question is, if you aren't going to do anything with rates for 7 years and counting, why are we paying you?  Seems like the taxpayers could be saving a lot of money by downsizing the Fed.