"Monetary policies created by the Fed have the force of law, but do not have to be approved by the President or Congress. Similarly, to avoid undue influence, the Fed is not funded by a budget appropriation from Congress like most federal agencies. Additionally, the terms of board members of the Fed tend to span multiple presidential administrations and multiple congressional terms. Nevertheless, the Fed is only authorized to take such actions as allowed by laws enacted by Congress and its activities are subject to Congressional oversight. This keeps it from being too powerful an institution or, effectively, a fourth branch of government." What happened? And, how did we let it?
https://www.hg.org/legal-articles/how-does-the-federal-reserve-system-the-fed-work-31824
