Personally, I think the Fed is taking the right action and the criticisms are overblown
. The current situation of unemployment, which can lead to a loss of job skills, is unacceptable. Inflation will not be a problem any time soon, if ever. While the threat of inflation and a market bubble is distant and uncertain, while current high unemployment is present problem. Another bubble in the distant future might cause high unemployment, but we've already got that now.