Fed Independence Debate

For a long time, I thought the Federal Reserve was largely independent from the federal government, that it was heavily influenced by the banking industry, and that overall the public was better off from that arrangement, as compared to an arrangement where the Fed was an agency under the direction of the President, or under the direction of Congress.

This fall I saw the Fed chairman and Treasury secretary come arm-in-arm to steal $700 billion from the taxpayer, so I am wondering whether my long-time view was incorrect.

But assuming I was right in the first place, you might be interested in supporting this petition:

https://survey.chicagobooth.edu/ViewsFlash/servlet/viewsflash?cmd=showform&pollid=gfm!FedIndependence