IMHO as far as I can see a President has 3 choices:
1) Abolish the Fed by Executive Order
or
2) Try to get Congress to pass a law abolishing the Fed
or
3) Try to influence Fed policy
Choices 1 and 2 seem highly unlikely to say the least, given the international stir from other Central banks and governments that would ensue, our check clearing systems, etc., all require interaction which is all controlled by the Fed, etc. Some other entity would have to take over a lot of it’s operations and it would take considerable time to transition, even if that meant just making significant changes to the Fed itself. It just can’t get shut down or change that quickly and I would think in the years that it would take to shut it down or change it the political will would probably wane.
All I see any candidate doing once elected President is try to influence Fed policy to be more like what their administration desires. Which is what the Executive branch has to do.
I don’t know, IMHO, I don’t see any other way. I never worked inside the Fed, so I don’t know what changes could or could not be made and how it operates in enough detail to estimate how long changes would take or if they’re practically feasible. I have written software interfaces handling banking transactions, so I have a general handle on the mechanics of the banking system and the fact that there are a lot of systems dependent on the banking system.
Suppose a newly elected President made a major policy speech(es) simply educating the American public as to how the Fed was formed. Who formed it. The fact that it is NOT a branch of the American Government. The fact that it is PRIVATELY OWNED. By FOREIGN bankers. (Which are all FACTS not known or understood by 95% of the American people.
I think there is much a Patriot Tea Party President can do that costs nothing and requires no Congressional approval to bring about a full National Dialogue on the Federal Reserve System that would ultimately lead to an audit, and that disinfectant called Sunshine.