The Congress shall have Power […] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;It's part of the things that the Congress is explicitly empowered to do — I looked in the Constitution and couldn't find a section allowing them to delegate the responsibility/accountability away.
BTTT!
Oversight over the secretive Federal Reserve is the single most important reason why I would consider voting for Rand Paul. The Fed is out of control. They are nothing but a tool to transfer wealth from middle class to the ultra rich bankers.