The Central Bank of the United States - What Is It?

The original central bank, the first national bank by charter was not allowed to buy government bonds. The Fed is doing exactly the opposite of what even the original central bank was created to do. Once you open Pandora's box, it's extremely hard to close it. It's like, well, the Fed lends at 5%. Well, why don't they lend at 2%? Why don't they lending at zero?"