The chapter opener says that Senator Richard Shelby of Alabama accused Chairman Bernanke of sitting idly by while financial problems developed, which “greatly exacerbated the crisis.” In the early 1960s, Milton Friedman made the same criticism of the Fed’s monetary policy during the Great Depression. In light of the problems of lags, forecasting, and economic uncertainty presented in Section 10.5, to what extent do you think it is reasonable to hold the Fed accountable for the policy failures that led to the financial crisis of 2007–2009 and the Great Depression?