Shinn says central banks in other countries only worry about inflation. Ours tries to help create jobs, too.
"The Federal Reserve is actually in there trying to control something that they have very little control over."
Shinn says fiscal policy set by Congress has much more effect on jobs. The stimulus spending, he says, is about to end.
"They started off buying $85-billion per month in government securities and mortgage backed securities. They've whittled that down and they're going to be out of the bond buying business by the end of October."
But some worry all that bond buying could create inflation, which would mean your money would buy less.
"By trying to pump up the employment rate; by trying to create more jobs the Federal Reserve may be sowing the seeds of inflation."