How did we let this happen? The Federal Reserve—our nation’s central bank—operates like it answers to no one but itself. This isn’t just a glitch; it’s a feature of a system that’s spiraled out of control. The Fed, birthed by the Federal Reserve Act of 1913, needs a serious overhaul—either repealed entirely or restructured to face real, direct accountability. How did we allow an unelected powerhouse to call the shots with so little oversight in a Constitutional Representative Republic?

Let’s break it down. Jerome Powell, the Fed’s Chair, doesn’t report to the President. The Executive Branch can’t fire him or steer his decisions. That’s by design—the Fed was built to be an “independent entity” within the government, supposedly shielding monetary policy from short-term political whims. Instead, Powell answers to Congress, the body that created the Fed over a century ago. He and his fellow Fed officials routinely face congressional committees—like the Senate Banking Committee or the House Financial Services Committee—to justify their moves. But is that enough?

The Fed’s structure is a beast of its own. The Board of Governors, led by Powell, is a federal agency, with members appointed by the President and confirmed by the Senate for staggered 14-year terms—deliberately long to dodge political pressure. Then there are the twelve regional Federal Reserve Banks, a weird public-private hybrid. Their presidents are picked by local boards, partly controlled by the very private banks they oversee, though the Board of Governors keeps them in check and dictates big calls—like interest rates—through the Federal Open Market Committee (FOMC).

In theory, the Fed serves the public and answers to Congress, not any single branch of government. Its marching orders—stable prices, maximum employment, and moderate long-term interest rates—come straight from Capitol Hill. Congress can drag them in to explain themselves, sure. But day-to-day? The Fed operates in a bubble, free from direct control, guided more by its own mission and machinery than any elected voice.

This isn’t accountability—it’s a shadow system. In a republic built on checks and balances, how long can we tolerate a financial overlord that’s untouchable by design?