Originally Posted by KC native
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.
This is a bunch of bullshit.