Mickey Levy: “the purchase of mortgage-backed securities by the Fed is a dangerous long-term strategy.”

The Fed's unconventional policies do deserve credit for lifting the economy and financial markets from crisis in 2008 and 2009.

Sustained, unprecedented monetary ease has failed to stimulate the economy.

The Fed has created an extremely unhealthy relationship with financial markets.

Fiscal policies have resulted in dramatic increases in debt, but they really haven't addressed some of the key structural factors.