No, the Fed is not the source of much of our problems. Congress is the source of the debt. And Congress can borrow regardless of what monetary system we have.
The Fed has done a remarkable job. They have kept the dollar more stable than when it was gold backed.
Failure to plan since the 70's for the next oil price shock, Failure to protect consumers from credit card rate shock, and unwise trade policies are the source of our economic problems.
And no, I didn't mention mortgages as a cause, because mortgages always take a hit in an economic downturn. They didn't cause the economic downturn. They were just the canary in the mine.
You approve of their handiwork?