LOW RATES ACTUALLY HURT RECOVERY SAYS PIMCO's GROSS

http://finance.yahoo.com/news/feds-low-rates-killing-credit-191230965.html
"The Federal Reserve's zero-interest-rate policy is hampering economic recovery by discouraging bank lending, Pimco bond titan Bill Gross said in an analysis.

For banks, a healthy lending environment exists where they can borrow at low rates in the short term and lend at significantly higher rates over the long term, a situation that creates a profit through a positively sloped yield curve ."

And from FED PLOSSER
http://finance.yahoo.com/news/plosser-slams-feds-2014-low-133821640.html

"GLADWYNE, Pennsylvania (Reuters) - A top Federal Reserve official sharply criticized the U.S. central bank's decision last week to telegraph ultra low interest rates for nearly three more years, saying on Wednesday the move undermined confidence and caused confusion.
 The Fed's policy-setting committee, citing a bleak outlook for the fragile economic recovery, said last week it expected to keep rates "exceptionally low" at least through late 2014. The forecast, which was contingent on economic conditions, pushed the target date some 18 months later than a previous forecast, and it sparked a rally in stocks and bonds."