I see your point, but the larger (and more ominous) point is how much power would the Federal Reserve would be able to wield. The Fed can create billions of dollars out of thin air. You are the CEO of a company who is critical of the Federal government - bam - the Fed sells off the stock. You make the right campaign contribution - bam - up goes the price of your company’s stock. Can you imagine a Fed Chairman appointed by Hillary? I know the Fed is supposed to independent, but so is the IRS and Justice Department. The potential corruption is practically self fullfilling...
I agree with your concern. Central bank independence is already shaky enough without the Fed’s ability to buy and sell individual corporate stocks and bonds.
BTW, I like your username. Hayek’s “The Use of Knowledge in Society” (AER, 1945) is one of the great papers in economics.