Obama issues 5.8 trillion in new treasury debt. The Fed buys 4+ trillion in treasury debt. A future rally in the US economy will be hampered by the Fed unraveling this massive debt.
That would be ok if the debt helped acquire a cure for cancer or extended lifespan or improved US infrastructure. But, it didn't. It just kept government bureaucrats happy. And, apparently that's all that really matters.
So Europe, we're just like you now. We're saddled with debt and laden with useless bureaucrats. Yellen explained today that there was no possibility that would change anytime soon.