"goal of the Fed is long term stability"

Pre-Fed
-------
Panic of 1819-1824(4/5 years)
Panic of 1837-1843(6/7 years)
Panic of 1857-1860(3/4 years)
Panic of 1873-1879(6/7 years)
Panic of 1893-1896(3/4 years)
Panic of 1907-1908(1/2 years)
1776 to 1914(137.4 years[July 4 founding]) Total = 23 to 29 years - 21% of our time(max) spent in economic turmoil
OR(if you want to be technical) 1819 to 1914(95 years) - 24%(min) to 30.5%(max)of our time spent in economic turmoil

Post-Fed
--------
Post WW1 Recession - 1918-1921(3/4 years)
Great Depression("The Great Contraction") - 1929-1937(8/9 years)
Post Korean War Recession - 1953-1954(1/2 years)
1973 Oil/Energy Crisis - 1979-1980(1/2 years)
1982 - 1983(1/2 years)
1988 - 1992(4/5 years)
2000 Recession - 2001 - 2003(3/4 years)
1914 to 2007(93 years) Total = 21 to 28 years - 22.5% of our time(min) spent in economic turmoil

How has the Fed helped us establish "long term stability?"

Sure, not ALL of them were CAUSED by the Fed, but they haven't exactly PREVENTED any of them, either.

As a matter of fact, the very fact that they purposely CAUSED at least one of them should be enough for our government to deny their charter and to repeal the Federal Reserve Act.