No, it's a massive step in the wrong direction compared to the federal reserve. There is reason bitcoins value wildly fluctuates and the US dollars doesn't.
Not really - it's more because the dollar-based economy is massive in comparison to Bitcoin and thus has much higher capital requirements to move the market. If you think that centrally managed currencies are great, you should probably read the multitude of horror stories. Here's a recent one: http://bloom.bg/1ryY2ZK
Many other countries have currencies that fluctuate wildly even with their own central banks. Is the US just better at managing it? The Yen lost half of its value a few years ago.