When Greenspan reports that the fed rates will go up and force up interest rates because of the federal deficit and the need to attract lenders unless taxes are increased, then tell me he has no authority.
OK, he has not authority to tax. I don't know what the rest of your post means if indeed it has any meaning. Greenspan and the Fed watch the personal income deflator and manage only short term interest rates and reserves to keep that indicator in line. You won't see the Fed raising interest rates (or lowering them for that matter) unless the system of taxation affects the personal income deflator or the economy is thrown into a recession (in which case they'll only lower interest rates).