The Fed Manipulating the Market? No Way!

Apparently there are some that believe the US Federal Reserve is manipulating interest rates, both long- and short-term.

Keeping rates low starves savers of capital appreciation. Banks are forced to seek higher returns by lending money to people. Those borrowers are supposed to spend the money and show everyone how wealthy they are with their new cars, boats, and vacations. Maybe some will borrow money to fund a business and hire people. With low rates, people are supposed to buy homes (because most can't afford to pay cash), which in turn stabilizes the housing market and ultimately, drives prices higher!

The only problem is that the Fed is creating massive amounts of money out of thin air (devaluing the dollar) and with weaker dollars, imports cost more. Imports like oil, gas, food, and crap from countries that have manufacturing capabilities that the US once had decades ago. With so much money-printing, what do we have? A housing market that might be stabilizing (I argue that it's not), unemployment >8% (it's higher when you remove all the adjustments the BLS makes), and spiking energy and food costs.

Don't forget, your savings accounts might still show the same dollar amount, but trust me, it buys less. Soon, it will be able to buy much less.

Wait a minute, you mean these aren't market-determined rates?:

Source: http://www.zerohedge.com/news/jim-grant-must-watch-capitalism-alternative-what-we-have-now
Source: http://video.cnbc.com/gallery/?video=3000077329