Yes, the Fed that stopped the much longer, more frequent, and deeper panics and recessions that occurred before it.
In fact, it did so well for so long compared to previous methods, that the Great Moderation is a term in economics for the stability it gave.
Instead of snarkily listing places you think it failed, compare that to pre-Fed failures, and you'll see that the Fed is a lot better than other solutions.
And there's ample economic evidence central banking is much better than anything before it, which is why every single country in the world has adopted it.
https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit...
