The Fed made major mistakes in the run-up to the global economic crisis of 2007-08, most notably by adopting a lax approach to the supervision of key financial institutions, and by allowing some very large banks to become extremely fragile. In one of the great ironies of modern American politics, the post-crisis Dodd-Frank financial reforms of 2010 actually gave more power to the Fed, mostly because other US regulatory agencies were regarded as having done a worse job.
美联储在2007—2008年全球经济危机酝酿阶段犯下了严重错误，其中最显著的便是对重要金融机构的监督采取了“松”政策以及坐视一些巨型银行变得极为脆弱。现代美国政治的一个巨大讽刺便是危机后的2010年多德-弗兰克（Dodd-Frank）金融改革实际上给了美联储更大的权力，这主要是因为其他美国监管机构被认为做得比美联储还要糟糕。