The stock market is setting daily records, housing prices are booming in their percentage increases and jobs are “coming.” What could be wrong with this? Does Bernanke deserve the Nobel Prize or an “A” in how to seduce a nation? Time will tell as the accumulation of over $3 trillion on the Fed’s balance sheet is unprecedented and the first test will be when the Fed stops buying $85 billion per month in securities, including mortgages and treasuries that it must either sell or hold to maturity. But one thing is certain; wealth gains have not produced jobs nor has it produced historically acceptable economic growth. Are policies and unchartered risks that just drive wealth sound policy decisions?