The Fed is an arm of the US investment banking industry and Wall Street machine, and increasingly is a political tool of US government aims to expand debt and deficits on an ever increasing scale. "We'll issue the bonds, you buy 'em. Keep interest rates heading lower and glue everything together with liquidity injections wherever there is any fall-out".
Not sure why you'd need a PhD to be a slave to the aligned aims of greedy bankers and unscrupulous politicians.