1. The Fed doesn't control tax payer money. They influence banks and credit (creation and destruction).
2. The Fed discloses where money goes and regularly releases that information. The anti-Fed types ignore that information.
3. The Federal Reserve was set up the way it is to keep it independent of political pressure. Since Greenspan, we've seen a lot less independence but historically the Fed has been independent so neither political party can assert they've taken actions to either goose or crash the economy for a certain political party.