Question

Should the Fed be independent as it is now or should it be a federal gency subject ot the direction by Congress or the President?

Answer 1

The fed should be an independent institution as it is now.The government and the fed should be 2 independent institutions to regulate the country.If the fed works at the direction of the government,then the government can use the monetary policy to make unsuitable policies that will make then win the elections.The government may increase the money supply even when there is inflation to increase the purchasing power of the people at times of elections.

Therefore,Fed should be independent