Federal Reserve System Audited Annual Financial Statements
The Treasury actually prints the cash. The Federal Reserve doesn't "print cash" but it does create money. Money is created every time a loan is created. Any bank in the system can and does "create money" by issuing loans.
The Federal Reserve is a banking system construct that enables the implementation of monetary policy. By law the Federal Reserve has 3 mandates: Full Employment, stable currency and moderate interest rates in that order.
And no, the Treasury should not be in charge of monetary policy. Do you really want Joe Biden or Obama delegating our monetary policy? ARE YOU INSANE!!! Be careful what you ask for.
The system as designed has worked amazingly well for the last 100 years. They tightened too much when they were new and caused the great depression. But they learned from their mistakes and we've not had a major depression since.
In the 1800's we had major deflationary depressions every 20 years, when we were on the gold standard. Oh and every time there was a crisis, Congress devalued the currency on the gold standard.
The Federal Reserve is audited? It is a private banking system and we don’t even know who owns it.
The only answer they will give is the member banks own it.
Does the FR buy securities? Does the FR loan money to foreign governments without congressional oversite? They won’t answer.
Yes, it would be better for the Treasury to issue the money.