It responds to the policy desires of the president even though it is not actually controlled by the president.
It [Fed Reserve] responds to the policy desires of the president even though it is not actually controlled by the president.
The Federal Reserve is a separate entity. It is not a "special" branch of any President sitting in office.
Monetary and fiscal policy is set by a central bank operating free of most political pressures.
"Don't Tread on the Fed" by Martin and Kathleen Feldstein, The Boston Goobe, November 12, 1996:
The Fed is an independent agency that reports to Congress but doesn't take orders from anyone. Monetary and fiscal policy and short-term interest rates are determined by te Federal Open Market Committee (the FOMC) which consists of the 7 governors of Fed plus the 12 presidents of the regional Federal Reserve Banks.
But fools like D-Paul Sarbanes and D-Henry Gonzales, during the 1990s, kept trying to pass bills to make the FED accountable to one or the other of the branches of congress.
It really peeves Democrats that they can't force an independent entity, the Fed Reserve, to do whatever the hell Democrats demand.
Par usual for control freak, passing out favors for votes, Dems.