Here's an excellent recap of some of what happened over the last two weeks with the FED. Beware though. The article creates two poles that are meant to be seen as extremes. 1. The FED intervention was justified. v. 2. The FED intervention was overboard.
More comfortable poles for me would be 1. FED intervention is justified and 2. FED intervention is never justified. Even more comfortable would be - the FED existence is justified v. FED existence is not justified.